Has any one actually received or started to receive their severance pay? My agreement was signed on the 14 but I haven't received anything and I haven't gotten a response about how to elect into COBRA coverage. This is insane.
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Is anyone at the company even getting a bonus this year?? Last year we didn't.
They are famous for timing cuts at bonu$ payout time.
I wonder what the chances of a bonus are.
@4djs+1pnE2W8U I asked HR about the bonus and they confirmed you have to be employed through 12/31 to be eligible.
Severance pay has been on schedule (fingers crossed it continues). Wondering if anyone was able to negotiate to receive their bonus or a portion of their bonus for 2023? It’s really bothering me that I couldn’t get anywhere with this and wondering if I could have done better or if others were able to and what they did so I can be better prepared in the future.
Sadly our ability to pay our bills is not even in the realm of importance for 2U after putting us abruptly into this situation. And, try and get a response when you do reach out! Ridiculous, how did we deserve this mess…thanks for your years of dedication, go lose your home…
You should move 401k asap. 2U will no longer be paying to maintain so if there's anything in there you'll be hit with high fees that chip away at your total. You can roll over into a qualifying retirement fund without tax penalty. If you don't know how, find a financial advisor or similar to help.
Post ID: @2jph+1pnE2W8U Can you be any more cryptic?! Please elaborate! What are you talking about?
Write to HR and ask for a breakdown that specifies both the gross severance pay amount and the corresponding paycheck date for each of your severance payments, in order to get your entire payout schedule.
What they didn't tell us was that we had to sign by Wed 10/11 in order to stay on our regular bi-weekly schedule. So that's why the next one doesn't hit until 11/3. But on top of that, note that some banks right now are having issues with deposits showing up on time. https://www.cnn.com/2023/11/03/investing/bank-deposit-outage/index.html
So I haven't gotten paid yet, but I'm hoping it's because of my bank, not 2U's incompetence (even though the latter is so very likely).
The previous post was actually meant to direct the corporate headcase, Post ID: @1fac+1pnE2W8U.
Post ID: @1hii+1pnE2W8U, maybe you shouldn't spend your time worrying about the stress surrounding a newly laid off employee, as they express concern @ such things like their unexpected financial bumps pertaining to their 401k!
Justice appears to have already been served today for one corporate type who seems to have engaged in highly fraudulent and unscrupulous acts.
So instead, You should spend your time focusing on your own corporate affairs.......'Whatcha Gonna Do When They Come for Yo2U!!!!!!!!!'
@1fac+1pnE2W8U Do you only roll your 401k over if you got a new job? Are there requirements for us to move 401k asap?
Per Workday, I will be receiving my first severance paycheck tomorrow. Here’s the final slap in the face from 2U: was having a 3-way phone conversation with Fidelity (the 401k company), my financial planner, and me to rollover my 2U 401k. At the end, the Fidelity guy says, “Well this is unusual—your company charges you $25 to withdraw all of your money.” I laughed and said, “Well they just laid me off—how lovely!” My financial planner said, “Talk about rubbing salt in the wound.”
Ummmmm, I thought that was my money in there? Whatever, 2U….
Regarding pay, check Workday with the log in credentials they provided right after layoffs and see if you have a pending paycheck.
Insanity and Sl--e-ball have 2 different definitions. Once more and more lawsuits come in, they can't use the insanity plea.
Just wait soon enough 2u will be recognized as the definition of insanity
Regarding Cobra, you have to mail in the election form to select your benefits.
I was in a past layoff, but my COBRA pay was elected through the folks who did the FSA. When I logged in I had the option to opt out of it (I think by default I was opted in)
HR was bad about responding. Don't hesitate to go up the chain if you have to, or reach out to your former manager for help. You deserve to have answers on when you can expect your severance.