Has anyone received their paperwork to sign so we can get our severance payout?
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I'm the op and still have not gotten the paperwork. I emailed someone in HR and they said because I'm over 40 it's requiring additional paperwork that legal is preparing. She said on Fri she would check with them for a status but I didn't hear anything back.
@es still waiting for the separation agreement last day was July 7th. What is going on ? The VPs got theirs July 8th. Why haven’t we gotten ours? It’s July 23rd !
My agreement arrived after providing tracking number for shipping laptop back over 2 months ago. Fortunate that my direct supervisor was very helpful in the process and helped stay on top of HR.
@1pz I received my severance agreement today. Medtronic will pay the amount they had been paying for medical coverage under the plan you had when under employment. You would be responsible to pay your portion as you had when under employment. At the end of 3 months, you would be responsible for the COBRA payment in full.
@OP They seemed to be slow with releasing the severance agreements. I call one week past the termination date and was told they would be coming. I called again yesterday are requested a HR ticket be opened - it was. This afternoon I received the severance agreement. Not clear if that was the plan to release today, on the last day of the timeline or because I called and requested a HR ticket. If you have not received your severance agreement today, you may want to call AskHR and request a ticket to get things moving. Wish you all the best!
2 weeks post last day and still no email for the severance package. I get here’s a lot of people but as mentioned they had at least 60 days to pull it together. Something tells me they started working on it on July 8th.
Anyone who has got the package willing to shed light on the 3month cobra subsidy?
I havnt yet received mine and debating cobra or moving to my wife’s insurance.
What kind of things are in the agreement that you have to sign? Does it including make cheesy posts on LinkedIn about what a great a company it is and how you loved all the opportunities it provides you? Because there’s no way those posts are genuine.
@12p I landed a job back with MDT but it was 1 week beyond the 2 month garden period. So, I had to go thru the hiring process all over. They paid me “severance” for that one week.
When does the "severance period" end and how is the pro-rata severance payback calculated if you decide to accept another position at Medtronic? I know, crazy to think about going back...but got bills to pay :(
My job was eliminated in May. I got..2months garden leave. July 7 last official day I have not received a email for severance to sign. As of today July 15th I am still waiting! Can’t get access to 401k for 30 days. Registered for unemployment on July 8. Won’t receive anything for a while since I got my PTO.but they didn’t give me my earned 10 year Anniversary 40 hours! Since I live in one of the states that was not on Medtronic’s list. They didn’t have to pay me. Just sharing information to help out those like me in the dark. Nothing is what they say. Seems like Medtronic is not very organized. What a disappointment.
Per your Next Steps email: You'll get a Separation Agreement sent to your personal email after your termination date. If you're getting 60 days paid leave, your termination date is the last day of that 60 days.
Once you receive the Separation Agreement, you have 45 days to review, sign and return it to Medtronic. You don't need to use that entire 45 days. After you sign and return, there is a 15 day waiting period (rescission) where you can change your mind and rescind that agreement. You won't get severance payment until after that 15 day period is up. Obviously you won't get severance if you don't sign the agreement, or if you rescind it after signing.
So....it took me about 10 days after my termination date to get the Separation Agreement. I signed and returned the same day, waited the 15 day period, then waited a few more days for the lump sum. Altogether, it was at least a month after my termination date before I got my severance. Some people got their agreement sooner and were paid out sooner so it varies.
How long does it take once signed to receive the payment?
@t1 yes!! It was sent via email and you'll have 90 days to sign it.
@r4 was it via email? I’m still waiting for mine.
@r4 payment of MIP and final hours on payroll
I was part of the reduction in force in May and received some payment last week. This morning I received the separation document from MDT. Does anyone know what the first payment was for or was that the full payment after taxes?
@qb Not VERP. This relates to those who were RIFd (laid off) back in April/May. This is their severance check.
@nn like they didn't know? They've only had 3 months to get it ready.
@pt Is this about VERP or something else? Thanks,
No paperwork or email yet. HR contact was OOO last week so hoping for info today/tomorrow on timing.
Mail or electronic?
Not yet but told by HR team in Colombia that it will take a few weeks due the the high number of people impacted
The check is in the mail. You’ll need to wait 90 days to withdraw.
Not the MIP payout....the severance payout. From what I can tell we are supposed to be getting paperwork to sign, than we'll get our severance and option to keep insurance. Anyone received the paperwork to sign?
Are you all talking about VERP? Has it started company wide? I do not think our OU started.
@dh forgot to add I didn't sign anything but got my payment
I received my payment on 7/7.
Waiting as well
MIP payout is 7/17 pay check so its must be in the mail. IDK tho.
Still waiting
I received mine last week.