Does severance block you from applying to other openings down the road, when the time it covered expires? Like a year or two later? Heard mixed things about it. Anyone been through this before?
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Recent layoff, applied for a job I'm qualified for, and heard back that they're looking for someone with more experience.. basically, layoff means they don't want you back. Take the severance money, never give it back, and move on to another company. Especially with the executive leadership changeover that's happened recently for the worse.
Yes I’ve seen it happen. But I’d only take it as a short term safety net and then bounce.
Who wants to work for a company that is telling you good luck and sending your job off to a slave worker in India? Don’t even think about going back. Keep your chin up. The grass is much greener on the other side.
In my opinion the "eligible for rehire" is just feel good talk to get the signature on the separation agreement.
Job hopping is the only way to substantially increase your pay. New employees, after two years training, you need to leave. 40% raise is common. You can always come back later at the higher rate plus, if you want. Staying at the bank for decades is crazy talk.
“The real question is why would anyone want to reapply at any org that let them go? This isn’t some unicorn and is a run of the mill bank just like many others.”
Long timers bought in to the kool-aid and think it’s da best bank eva! Umm … also justifies their lazy incompetent a-s for working at the same company for decades. The amount of money left on the table by not jumping jobs is a huge loss.
The real question is why would anyone want to reapply at any org that let them go? This isn’t some unicorn and is a run of the mill bank just like many others.
US Bank is corrupt. Nearly all position have candidatedecide already. Mgrs and hr post position anyway and waste applicant time.
Don’t waste your time trying to reapply at US Bank. They don’t want you back.
I was notified that my position was eliminated in March (Technology business line) and since then, I have had 3 phone screens with recruiters that have not went any further for roles that I was well qualified for. As others have said, I've pretty much lost hope at this point to be re-hired within the bank. To me if seems like the recruiters may be obligated to give me a phone screen...
Officially yes. Keep in mind that recruiters have a goal of hiring 60% from internal and 40% external period. So odds of people outside getting in are against them just from that perspective.
As long as you left on good terms, and the hiring manager just lets the process flow through during the layoff, then there's nothing really stopping you technically.
If you get 13 weeks severance, and you get hired back and start after 6 weeks of layoff, you would have to pay back 7 weeks of severance. But at least you keep your original hire date and pension.
Once you get past the severance date, in my example above 13 weeks, if you get rehired and don't have to pay back any severance, the downside is you lose that original hire date and you start back at zero.
Many many years ago (40+) when staff had to be laid off due to reduction in force, those people were put at the top of the list for open positions. Sounds like that is not true now. Really poor treatment of employees by upper management. I would warn people away from applying for this bank now.
It’s a sorry state of affairs in the bank’s technology department. Leadership is practically nonexistent, all they what want are yes-men. It’s all about connections and favoritism: “you scratch my back, I’ll scratch yours.” Honestly, if most of the EVPs, SVPs, and VPs had to reapply, many wouldn’t even qualify for a teller role. But alas, this seems to be the same broken story playing out in many organizations.
Don't count on it if you're over 50. They don't want anyone over 50 working there.
As someone directly impacted by layoffs last year, I can say this with certainty: it’s incredibly disheartening trying to come back.
Yes, my role was eliminated, but my skillset is broad, adaptable, and well aligned with numerous opportunities. I’ve applied to dozens of positions within the bank, none of which were senior level or executive roles... just solid, meaningful positions to continue building a career and make a living.
Out of all those applications, I’ve only made it past one recruiter.
That one opportunity? I was informed that someone else had been selected — someone who used to report to me in my previous role.
Trying to return has been frustrating, and at times a defeating experience. The process needs to be better, and the talent being overlooked deserves more than silence.
That being said, I am no longer willing to look for opportunities at USB.
They typically don’t go to your previous manager for feedback. Unless there was a major issue, you're generally considered 100% eligible for rehire. That said, it ultimately depends on how the hiring manager feels about bringing someone back who was previously let go. Unfortunately, I haven’t heard many positive stories around this, which has been disheartening for a lot of people
Unless you and your manager were let go, they will go straight to HR to ask questions to see if bringing you back is a risk or not.
Yes depending on the terms that you left on. They will reach out to your previous manager to get input. There is a time period in which you do have to pay back your severance if you are rehired this varies between different states and local laws.
Yes, you are eligible to be rehired after being laid off.