The generic severance doc says exempt exployees get 8 weeks+ 2 weeks per year, up to 26 weeks. Let’s say that I qualify for 16 weeks.
If I was laid off this week, and given the warn act notice stuff, when would the 16 weeks start? Now? Or after 60 days from now?
The 60 days has nothing to do with severance, pay continuation or anything.
The final 60 days you’re still a t-mobile employee. Your severance/continuation time starts after your separation date.
It would start now. I heard payout is on 12/1 so I think everyone affected this month, their 60 days start immediately and then rest of the severance depending on your tenure would be paid out 12/1.
It caps at 26 weeks.
If you have 20+ years there is some extra payment.
So basically 9 to 19 years is the same.
So. "capped at 26 weeks", does that include :
8 weeks + 2 weeks for every year of service
or you get 8 weeks +PLUS+ 2 weeks for every year of service .. capped at 26 weeks which would really be 34.
Bonus is calculated through your separation date.
Source, I can do math.
Transition Pay & Equity
§ Transition Leave: All impacted employees will receive at least 60 days of transition leave on top of severance pay.
§ Severance Pay & Salary Continuation: Employees are eligible for salary continuation on a bi-weekly basis.
Exempt employees are eligible for 8 weeks of salary continuation + 2 weeks for each year of service, up to 26 weeks total.
Non-exempt employees are eligible for 4 weeks of salary continuation + 1 week for each year of service, up to 26 weeks total.
“ Partial year of service is also counted. If you have completed 5years 2months, that’ll be considered as 6 years, correct?”
Partial years are counted after 181 days.
5 years 2 months rounds down to 5 years.
5 years 181 days rounds up to 6 years.
Your severance documents provide you with the total lump you’ll receive. It’s not difficult to do math and figure out that the 60 days has nothing to do with that lump sum.
You’re still employed by T-Mobile. You’ll be paid as normal through your final payroll week.
Partial year of service is also counted. If you have completed 5years 2months, that’ll be considered as 6 years, correct?
Don’t be fooled because someone mentions the source as “I was selected”. Read the severance document.
2 months salary continuation = Initial 8 weeks pay
+
2 weeks per year of service
"The 60ish days “gardening” or whatever euphemisms you want to call it has absolutely nothing to do with the severance pay out. The lump sum you receive is the eight weeks +2 for every year that you’ve been there up to 26 weeks total.
You are still an active Tmobile employee in terms of salary, benefits, etc. for the final 60 days. you just don’t have to work."
So, this would mean 60 days + 8 weeks + 2 weeks/year of service.
For the final 60 days off service, does your bonus continue to accrue during that time? ie one would get the prorated bonus from Feb until now + 60 days?
Same question about the 2 months of COBRA provided, that would also start in 60 days and run for two months?
The 60ish days “gardening” or whatever euphemisms you want to call it has absolutely nothing to do with the severance pay out. The lump sum you receive is the eight weeks +2 for every year that you’ve been there up to 26 weeks total.
You are still an active Tmobile employee in terms of salary, benefits, etc. for the final 60 days. you just don’t have to work.
Source, was selected, have seen my paperwork.
Did anyone get the lump sum? I believe you get 60 days paid (WARN) requirements, then 8 weeks minimum, plus 2 weeks per year (if salaried), paid as a lump sum post 60 days WARN?
“8 weeks salary continuation + 2 additional weeks for each year of service; Maximum of 26 weeks total”
Continuation = garden leave
How hard is it to understand?
The 2 months can't be the severance if you can't get the severance until you sign it.
Garden leave = Initial 8 weeks of severance
HR goes over all that during the exit strategy.
"The garden leave is the initial 8 weeks of the severance. This round isn’t any different than the last one. "
No it's not. Quit spreading misinformation. The garden leave is the 60 days (minimum) you get to stay on regular payroll due to the WARN notification. When you were informed you were let go, you should have been told your official last day. It is also in your severance paperwork. After that is when your severance kicks in which is 8 weeks + 2 weeks for every year of service capped at 26 weeks (for full time employees).
The garden leave is the initial 8 weeks of the severance. This round isn’t any different than the last one.
Severance is 8 weeks + 2 weeks for every year of service...capped at 26 weeks. Those with over 20 years of service get an extra % payout based on years of service. Also comes with prorated bonus and advance vesting of the next schedule stock RSUs. And this round everyone is getting 2 months of garden leave before severance starts. So you'd be on the normal payroll through early November before severance terms kick in.
What doc are you reading? I was under the assumption it’s 1 wk/year, capped at 10.