I'm convinced my store is not closing, at least not yet, but I’ve still been wondering how severance works. Who gets it, and how much is paid out? Do hourly get anything? Are there any other benefits, or is it just the severance check? Just trying to stay in the loop in case it ever becomes something I need to know down the road.
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Severance is one paycheck per year worked with a minimum of 4 years and a maximum of 26.
they kick you on your big butt on the way out
You can get COBRA insurance.
You can take your whole 401k if you're 100% vested. If not, it'll be some portion of it. You can choose to leave it with Macy's but I wouldn't.
4 week minimum, 26 week max
Severance is one weeks pay for every year service there may be a max