Retirement begins with 2 year paid vacation! LMFAO
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Only management is six month’s severance. Us in the union get a sweeter deal based on seniority, check your contract manual for details. Sun always shines brighter on the union worker. Never cross over to the dark side if avoidable.
OK, last post makes perfect sense...I hope you're right and there are offers for the most senior people to leave voluntarily rather than less senior having to be forced out involuntarily! You're right, it is a win-win!
It would be a surplus announcement per contract for a certain number of positions for a certain title, and not everyone is a technician as some on here seem to think. The surplussed positions are first filled with volunteers to leave via the VTP by seniority and typically there are more than enough volunteers so nobody has to be laid off involuntarily. This works out to be a win/win/win deal and is thanks to the contract which exists because of the Union.
This will not be a lay off per se, it will be a VTP in your region of the country if applicable! I don't see technicians being offered a VTP anytime soon anywhere in the country because they're in demand at least in Business Field Services! Not sure what the situation is like in other business units, but BFS is still hiring techs!
104 weeks pay to Union workers under the CWA/Leg T contract with seniority over 31 years. The # of weeks termination pay graduates down with years of service however it's still a hellova lot better than what managers get. Thanks to the Union. Some people say the company will never pay out this termination pay however those who say that don't know what they're talking about because the company does so every 3 months and many of us are just waiting for our turn to get this ultimate kicker to retire.
Talk to the Union and you will find out that if they offer you ANY job ANYWHERE and you refuse ... you can forget you severance pay. Believe whatever you like though.
If I remember correctly (and please, nobody make decisions based on this information) management severance is 4% of base pay per year of service, up to 50%. So it maxes out at 13 years.
"thought severance maxed out at 6 months now.
could you explain rather than vague posting."
I think this applies to craft? I've never seen an amount anywhere near this in any management materials. Last I saw, management tops out at 50% of annual (6 months) after 20 years. Looks cheaper and easier to layoff management than craft IMO.
My contract requires T to pay 104 weeks of severance if I get laid off and that's not just a Midwest contract agreement! The sad thing is that technicians aren't going to be the recipients of this benefits since technicians are still in demand for the work that is rolling in!
"thought severance maxed out at 6 months now.
could you explain rather than vague posting."
Depends on contract. Midwest CWA termination pay is up to 88 weeks of pay.
Depending on your current age, health insurance is expensive. With 6 months paid company ins and you cobra pickup for 1 paid year at company rate; 18 months is the ideal escape time.
And the hardest to tolerate the work environment.
thought severance maxed out at 6 months now.
could you explain rather than vague posting.
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Congrats.
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