In the old days, Visa had a severance of 1 month per year of service up to 12 months. Now I understand it's 2 weeks per year in most cases for the US - does anyone know what the cap is (in other words, at how many years does it not matter anymore - 12? 20?)?
Trying to figure out what the base number is + 60-day notice + PTO.
@jf How do you think the people that were hired and worked most their career with the understanding that 1 month for every year, capped at 18 months feel now that it is capped at 9 months?
Typically, as companies continue layoffs, they recognize that their reputation is already damaged, so they see little benefit in offering generous severance packages. Former employees have already experienced this first hand over the last couple of years.
To my knowledge, this has never been shared proactively by HR and only made public by those that have been let go. I'm not sure if HR would even reply to a request from a current employee like me to spell it out.
jf+1k1e0jpk8
For the same reason they've been so hushed about the layoffs — they're greedy cowards.
One thing I don’t understand is when and why this rules keep changing and how or who is communicating to employees on these changes. The reduction from 1 month for every yr to 2 weeks per year and the cap from 12 months to 9months with out formally announced how can they go behind our backs and keep updating the benefits
The cap was lowered to 9 months this year. In the Spring, I heard there were talks about lowering the cap. Last year, the cap was 12 months.
9 months it is capped. Back, back in the day it was capped at 18 months. About the time we went public it went down to 12 months max. Not sure when it became 9 months.