Can anyone tell what severance package they got for recent layoff?
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The severance info on the HR site is vague at best for Bank - Is there anyone on this forum who worked for Bank and was laid off, and who actually got 1 year's severance?
Bank gets different severance package due to the stipulations made by the FED and OCC. the package was created per their guidelines, not ours. Sad because there are Bank employees who work here for a couple months and get a year’s pay in severance.
P&C and Life Co IT are part of ECIO, unlike the Bank.
it was not just ECIO, in P&C and LifeCo too
Bank is not impacted. Layoffs are within ECIO under Amala. But yes, the Bank has a different severance package had they been impacted.
Why is Bank getting more severance than the rest of the impacted area's?
Just search for severance on internal connect, it’s there
52 weeks for bank employees
non bank, 2wks of pay for every year of service or for ever 10 thousand in salary, the higher of the 2, max of 40 weeks.
Plus cobra and 60 days transition paid work day with career help.
I am curious to know as well