With murmurs about the next round of layoffs being soon, what is the standard severance package? Does it change based on role?
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Don’t worry about things you can’t control. Get your resume together and start the job hunt.
On the Schweb: Jumpword: “Severance”
The SEC site is current. Your base benefit is tiered for minimum days and other details. There is also a 18 month COBRA health benefit where you pay 102% of the premiums yourself. We provide a stipend for this, but you don't have to use it for the company plan. Private insurance or ACA can be a better option.
If you google "The Charles Schwab Severance Pay Plan" the first result should be the copy that is on file with the SEC.
The basic gist is you get a half month of pay per year of service.
I heard a while back that they were gutting the severance plan and you would have to have 3 years of service to get anything beyond your salary for the notice period then it was like 2 weeks for every year of service capped at 8 weeks total including the notice period or something like that. Don't quote me. I don't remember the exact numbers just that they were bad.