I am currently looking for new jobs and have gotten a few interviews. If I get an offer before AT&T can make up their mind about a timeline, is it worth taking before the severance payout?
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You know what to do. You talk to your manager and say hey, if I can get a package and save someone, let me know.
Due to the complexity and size of AT&T’s severance plan I’d be SHOCKED if it didn’t fall under ERISA protection. To me there’s really no question about whether the plan (as described on internal websites) would be offered to those who are asked to relocate in order to keep their job (if that relocation is farther than the maximum mileage stated in the plan). Of all of the fears we can have about this, I think this one is minimal.
"OMG, clueless. Read the severance policy, listen to what leadership is saying. There is severance. My god, the mo--ns on this board "
The risk of waiting is the severance policy can change. As another poster pointed out just like the company can take away retiree benefits, they can reduce the severance payout at anytime as well. Like IBM reduced the severance to one month maximum years ago, I won't be surprised if T is eyeing severance pay as another way to cut down cost.
I wouldn't count on the severance pay too much. The current AT&T leadership is always looking for ways to save a few bucks. Just like retiree benefits, the severance payout can be reduced at any time. There are many precedents in other companies. Also, there's already a rumor on another thread that the severance is 2 weeks maximum for the upcoming surplus.
"Considering there isn’t going to be a severance payout"
OMG, clueless. Read the severance policy, listen to what leadership is saying. There is severance. My god, the mo--ns on this board
I am exempt, L2 mgmt, my severance will be 6 months due to my # of years working.
YES.
If you’re non union there isn’t go to be a severance; I mean two weeks of pay but that’s nothing.
For those of you writing you’re getting x months/half your salary I’m assuming you’re union? Just remember when you take a severance package you cannot file for unemployment or if you do the unemployment will not go into effect until the amount of time you were paid in severance expires (eg: 3 months of pay of severance = 12 weeks before you’re unemployment kicks in). It goes without writing unemployment doesn’t pay very much so it behooves anyone who needs real money to find another job asap and get to working. Best case they severance can go into savings which is paying at over 4% these days
Certainly make sure you get all your facts first as well ... you can see in the comments someone saying severance is a 'couple thousand dollars', and someone else saying it's half their salary.
Look up the policy and see what yours would be ... mine would also equal 6 months salary, so I am willing to wait a few weeks to see where the axe comes down. And don't listen to fear baiters .. .if you fit the policy, you will be offered severance.
Considering there isn’t going to be a severance payout, yes. This layoff is gonna have every affected notified by June 23rd and everyone will be off the books by the 6th of July. Do you know definitely you’re impacted? Meaning, you’ve been told to RTO and you cannot? If so I’d take a job asap if offered one.
being in a similar position, i would take a new job - if it's a great fit. yes severance would be a dream but if there is an opportunity now, it's not worth the risk losing that great opportunity just to have x months doing nothing. otherwise, if the new job is just another job and you know there will be plenty of opportunities, wait.
As Gandalf would say, "Fly, you fool!"
You have to do the calculation yourself. For me it's half my salary. Unless I found a really great job at high pay I'm going to wait it out for a bit. If a company wants you they'd probably work with you, as long as you're upfront with them (or with a headhunter, if you go that route).
If you find a new job that feels right and isn't with T, don't bother waiting for severance. Why jeopardize a promising new position for the hope of a few thousand dollars? Sure the severance might be a nice bonus, but is it really worth potentially losing our on an opportunity?
The sooner you leave T the better -- for you, your family, and your mental health.
I would take the job, especially if it sounds like it is what you want. It is better than being without one in a few months and struggling. You can possibly negotiate a sign on bonus and delay the start dates as well. Seriously, GTFO of T ASAP, it is in your best interest.
OP - that is a very personal and situational decision. Most companies will work with you on a starting date, however no one can make that decision for you.
I did hear a VP of a company once discuss this situation, as something similar happened to him. A (few?) weeks after he left for another job, others were offered a significant severance pkg. In an interview, he said (basically) "I found the terms of the new job acceptable, and I made a decision. I accept my decision and have no regrets".
Personally, I'd be willing to wait the next few weeks to see what happens as I would not want to miss out on the severance - it would help me tremendously with alleviating some bills and stress. But - if you are in a good financial state, have a job lined up with terms you like, and are tired of T's stomach heaving rug-pulls, then make the decision and accept that you made it for reasons which were satisfactory for you and your family.
This forum is not a good place for advice on personal, specific life decisions, In my opinion. Consult a mentor that you and trust.
You have to do what is right for you, I personally want the severance but I am not sure the stress of staying here until they get their heads out of their as--s is worth it...
If you wanna leave, do it. If you want the severance, dont take a new job til your severance is assured
Yes. Severance will be limited.