Anyone else get an email today informing us of "limited updates " but also that the overall program does not change? Seems to be very hypocritical.
For a second I thought this notice was just for me.
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Wrong. They did not remove the section about your severance going to your estate in case of death, it is still there… Page 6, about five or six paragraphs down.
Not sure why last year was the same BUT previous layoffs (two years ago) it was 2 weeks for every year you were employed...a little gas lighting going on here. Clearly those less than 15 years are targeted and those greater they figure will retire soon.
If you compare the revision to last year they removed one key part. If you die while receiving severance, your payments stop. Previously they would pay any remaining severance in a lump sum to your heirs. I’m sure a comforting message to receive after: 1) your spouse was laid off, 2) they then died…
Report it as phishing. Give the mo--ns something to do !
Why they sent this out on first day of new year to everyone? A warning? Not exactly what I want to see, especially the only change was for executives.
Why not just send it to people they is affected and post on intranet?
Stop giving us stress
The title of the email and the wording were sophomoric at best.
A lot of us thought it was directed to us personally at first.
High school intern wrote it maybe?
Just checked the 2025 policy: "Severance pay
If you have a qualifying termination, you will receive severance pay equal to one week calculated based on your weekly compensation rate for each year of service if you have less than 15 years of service, or two weeks calculated based on your weekly compensation rate for each year of service if you have 15 or more years of service, subject to the minimum and maximum benefits set forth below based on your job grade:
Job Grade Minimum Maximum
They are definitely about to do another layoff again. What a way to start the year! What kind of company sends such a terrible, low morale message at the start of the new year?
Looking at the SPD for Jan 1, 2025. The existing 4 week minimum for grade 4-13, 12 week minimum for 14-16 and 26 week minimum for 17+ still apply. Nothing has fundamentally changed.
Both severance plan documents are available on the site. The only real change I could find was that they added some language about "executive risk takers" and how their bonus calculations for severance purposes had to go through some committee. Benefits for normal people don't appear to be changed... at least for now.
"The new plan says 1 week of service per year"
"The previous plan called for one week per year up to 15 years of service and two weeks per year for 15 years or more of service"
Wow! Cut in half. I suspect huge layoff coming. Always follow the money.
Yet another reminder that the leadership at this company does not like or care about its employees.
Why you would send an email like that at the beginning of the year is beyond me.
The previous plan called for one week per year up to 15 years of service and two weeks per year for 15 years or more of service. There were minimums and maximums based on your grade.
The new plan says 1 week of service per year. I thought it was 2 before? Am I right?
First day back in the New Year and the fascist government of US Bank sends a severance update. Disgusting!
Company wide update, further indicating the complete disregard for employees and absolute and wholesale lack of any emotional intelligence within the leadership of this collapsing organization, guess they thought since they were not working and not in office that they could slip this into the email trail without much fanfare or notice, but in reality pizz poor timing and the notice collected significantly more attention that had they buried on Workday or some other HR related platform.
Colleague mentioned about some email like that in the hallway. Something about value not changing which did not make sense