For those that were laid off this week-
- What (if any) was the severance offered?
- When do your insurance benefits end?
- Are they pay you out of unused PTO (in states that it’s not required to pay out)?
4 replies (most recent on top)
Laid off in August, I assume it's gonna be the same this time around. I got two weeks of pay for ever year I was there, plus a $5,500 for COBRA Subsidy, bringing my total to $37.3k. After tax, $26.3k hit my bank account.
Your benefits terminate on your termination date. For me, I was laid off in August with a Termination date of Sept 27. I received a regular paycheck plus benefits until then, then the lump sum severance at the beginning of October.
I did not get paid out for PTO.
They also included a one month Outplacement Assistance program. TAKE ADVANTAGE OF IT. They will offer career path guidance, critique your resume, mock interviews, basically any and all aspects of finding a new job. I was with GP for over 11 years and was honestly very naive about the job market. LHH was phenomenal in helping me at that time. Do NOT neglect to take advantage of them.
…… why wouldn’t I ask?! lol 😂 there are lay offs happening. If god forbid I get laid off, I want to know what I should anticipate for my insurance benefits and severance package. Some people like to have some level of knowledge to adequately prepare financially and I also have ongoing chronic health conditions sooooo
We have not gotten our actual letters yet. I was told to expect it in about 30 days. Based on what I know -Pto and sick days are not paid out, I will be given 2 weeks pay for every year. There will be a clause about not speaking about this once I have it except for my attourney. They will try to stop my from working at a competitor for 2 years. I am required to train offshore people on my day to day job or I forfeit my package. My wife is a lawyer so she will be reviewing this.
Why do you ask