Just got displaced today. Anyone know how severance is determined?
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60 day "working period" where you are still technically employeed by The Firm, so you technically can't get another job during this time or you will lose your severance.
but whatever you do, DONT WAIT to start applying. like c7 said, the market is absolutely terrible right now. i know several people who took over a year to find ANYTHING and had to settle for significantly less money.
good luck!
Some people should be cut...
Read your displacement package. It will contain the specifics around the dates.
My advice - get looking right away. I was displaced last year. Have a stellar resume, executive experience at the bank. It took me 6 months to find a job. I didn't realize just how bad the market was until I started connecting with others that have been displaced. Absolutely brutal. One guy I've gotten to know well was making $160K in his previous role. Told me after nearly a year of being unemployed he was now willing to work for $80K just to keep his house. Really, really sad. And the news from Microsoft, Amazon, Facebook, etc isn't helping those in the tech industry.
What's severance?
@a7 no severance for interns
I was told no severance
I called employee care and they said generally, 2 weeks for every year after 4 years, with an eight week minimum.
So, I take that to mean, I’ve been there 3 years so eight weeks of severance.
You'll get an email with all the details. If over 40, it might be a good idea to have an attorney look it over before you sign.
see employee handbook. typically 2 wks/ yr of service
2 months + 2 weeks for every year of employment
what did your manager tell you? they should have gone over all this with you.