For severance, if you sign the form and agree to take the presented severance package, are you allowed to get another job at the same time? Meaning if you did would you get both pays?? Never been laid off before.
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Correct, you have to work til the date they give you, otherwise it's considered voluntary resignation with no severance. So if they say your last day will be October 1, start your new job october 2 .
We can take a new job after our date of termination (in October) and still collect our severance, but if we get a job before our date of termination, then it is forfeit. Is this correct?
The update meeting may very well be a staff meeting to pick up the pieces after the events of today. I'm not saying don't worry about it, but hopefully some leaders who are left may be actually leading and helping their team navigate these choppy seas.
READ THE WHOLE THING BEFORE YOU SIGN!!!!!
If you get a severance and find a new job weeks later and the severance payout was 4 months you basically get 3 1/2 months of your old job and your new job pay. You will sign something stating you will not sue the company or you forfeit your severance. Best of luck to all of you that got laid off. It’s awful.
Yes, pretty much everybody has a new job pretty fast after the severance starts. The severance would only be forfeited if you cause trouble with the company, like not helping to create a smooth transition, or if cvs offers you the same or comparable job before the severance starts and you turn that job down. You can start applying places now, and can accept to start the same day your severance starts or any time after. The severance will continue for the entire term of your severance contract regardless of new job. ( someone who has been laid off a few times with cvs and hired back) But read the papers carefully. Pay particular attention to your 401K and PTO.
Nope. Severance stops when you get a new job -cvs or non cvs. Part of the severance is that you sign a contract agreeing to that.
Yes. You can take your CVS severance and collect a salary from another job concurrently.
Just an fyi because HR loves to conveniently leave this out - if CVS offers you another position (even if it’s at a lower job grade) and you turn it down, you also forfeit your severance.
Of course, unless you also signed a non-compete agreement at some point, which would prevent you from working in the same space for a period of time.
If I get laid off tomorrow, which seems likely due to Business Update meeting, I won't be singing anything until an employment lawyer looks it over. I don't trust this company and would suspect 95% of people sign it without realizing what they signed.