I'm trying to get a clear answer on this one. My last day of active employment is Nov 18th (I live in NJ) as per my termination/layoff letter.
Are we kegalky allowed to obtain FT employment before this date and still receive our full severance package or do we lose it if we start working FT at another company?
5 replies (most recent on top)
Yes, once you are separated you can get another position and still get severance. I have done this in the past. Those saying differently, please quit providing misinformation. In the paperwork this is addressed. Re-employment with CVS would end severance, not employment with an external company.
The check would be via social media (free) if you disclose it or your new employer did. Otherwise it could be done with a credit report ping of current employer. I have some trawling my LinkedIn profile. Wish I could say that I’m kidding.
You can get another position with another company AND receive severance. Just make sure you don’t have a non-compete clause, meaning you can’t go work for a competitor within X months. How they check that I have no idea.
I live in CT. I called colleague relations. My last day in the office was 8/15 and my separation date is 11/21. If I were to get a new FTE position I am eligible for my full severance AS LONG AS the new gig is not with CVS. Hope this helps.
Focus on the Article 2 section.....
https://www.sec.gov/Archives/edgar/data/64803/000006480322000008/exhibit1025-2021.htm