I was severanced out of the company a few weeks ago and my first severance check which should have been a few hundred dollars more because insurance and 401k are no longer being withheld was actually a few hundred short. HR would not talk with me about it, I was told all correspondence had to be through email which will be a slow process. These people can’t do one single thing right. Not one. On a positive note I am glad to be gone from that place.
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It’s 10 years of benefit if you did 20 years and 20 years if you did 30. They slap the modem charge on and I think start charging you $15 or $20 phone . I still get product benefit but right away after 2020 layoff they add a few things on that weren’t there when your an employee. Plus random rate increases with out notice like everyone else .
depending on how long you were with the compny, you'll get an emplyee product for a while. I left in '20 and my rate was good for a few mths , then went to like $180...now I',m up to about $250. It's the one thing I miss the most
100% correct, no mistake, just “withholding”. You’re not being taxed more you’re having more “withheld”. Depending on your individual tax situation you’ll likely get most of back when you file your income tax for 2025. This has nothing to do with Altice, it’s just tax law.
They borrowed another billion today so they can pay you.
@ps Haven’t heard anything about raising the rate on the employee benefit. I’m not surprised though. I’m at a place with this pathetic company that if they raise it $0.01will disconnect just on principle. No one needs the $hit service they provide.
Plus they raise your employee benefit which they prob don’t tell you.
Yes, the income is taxed as "supplemental wages" at 22% federal and 11% state, but that's only until the end of the year, and then it is normal wages. So you will get a refund for the difference. I'm expecting another 10k back at tax time, so what I'm doing is taking a 0% credit card and paying for stuff on that (paying the minimum every month) until April 2026, then I'll pay it back. You have to play games because the government decides you should loan it money right when you get laid off! You will get it back later, don't worry.
Not only are you out of a job now, but you are going to be taxed more.
@OP from what I understand more tax is withheld from severance checks.