Severance depends on location, level, and years of service. People on these threads forget not everyone is a scientist or sales person or a salaried employee. We have plenty of hourly workers, people in various countries with their own employment laws and rules around layoffs, and different level employees receive different amounts of weeks per year in severance. It’s not a blanket package for all. And not everyone is asked to stay on with retention.
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Yes, if you get a severance package, you can take a new job within the period that the package covers (eg, 2 months, etc). But note that a severance package (essentially paying you to leave) is much different from a retention agreement (paying you stay a specific period and then leave once it’s done). In the latter case, if you leave prior to the determined period, you will not receive the retention $.
What about a severance agreement though? If they don’t keep you for months, instead RIFing you immediate, can you take a new job and still collect severance?
US, there was the 8 weeks (2 months) still on payroll + 2 weeks per year of service (round to nearest whole year). If you are offered a retention agreement with a promise of a retention bonus and you sign it, you MUST stay until the last day of service, if you leave before the end date of the agreement, it is a voluntary resignation and there will be $0 severance, you may not get the full 8 weeks pay and any benefits are also revoked. Do not sign retention agreement unless you are willing to stay until the last day of work
I got 3 months
Can you take another job while you’re on severance and still get paid the severance?
What is the severances in USA region
I worked for 1.5 years got the severance for 4 weeks, I got this one last year Jan 2024.
I know that last year in UK, the severance was 4 weeks of pay plus additional 4 weeks per year served. It has to be a full year, so if you've been at Illumina for 1 year 11 months, that's just 4 weeks of severance pay. Severance payments are not taxed up to certain amount in UK.
Does anyone know if benefits stop if you take another job during the severance period?
Its 2 week per years worked-or 1 week?
What depts/locations have already had lay offs this werk?
8 weeks plus 2 weeks per years worked