Just trying to confirm, does 1 week base pay for every year worked mean you will receive a 40 hour/1 week pay every 2 weeks for x many years you worked? I assume the old way was a 80 hour/2 weeks pay every 2 weeks for x many years worked.
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One week per year is a joke for a company this size
See the Nielsen Nsider email from 2/7. It has the link to the updated U.S. Severance policy. It says in the email (but not in the policy itself) that it was put into effect on January 24, 2024.
The information here is not accurate
Then, please, enlighten us.
we get a week for every year that we worked at Nielsen? and they pay you on the same pay schedule we have now? so I get half pay for the next few pay cycles?
my pay is low now. you're right this is a kick in the ba--s
"so that seems outdated according to what I've read on here."
The information here is not accurate.
The policy on Nielsen Now still says two weeks per year of service, up to 26 weeks, for employees making less than $200k, so that seems outdated according to what I've read on here.
Did they provide a new written severance policy? When I was still there I found a copy of the policy summary on Nielsen Now and it was listed as Effective January 1, 2018.
Wait. There's a 12 week cap now are these people fu--ing serious?
I was laid off Jan 11th last year. I can confirm I got 2 weeks per year and my time was rounded up. I was with Nielsen for 8 years but they rounded up to 9 not sure why since my hire date was close to the end of the year but whatever. Cuts now are only giving 1 week per year. The cap during my layoff was 12 years therefore the most severance you could get last year if you made less than 200k was 26 weeks. Now, it’s 12 weeks (3months) if you make under 200k. So anyone with over 12 years sorry you’re only getting 12 which is the cap if over 200k you’ll get 26 weeks. You’ll continue to get medical dental etc if you are enrolled while getting your severance. Oh btw your last day of employment will be the date you receive your last severance payment not the day you’re laid off. They don’t tell you this. For example, if you were laid off tomorrow and got 12 weeks severance you’re last date of employment when another company does a background check on you to verify employment will be 3 months from tomorrow. This is how Nielsen reported mine last year anyway. That can be good or bad for you. Good if you find a role near or right at the end of your severance because you can put the later date as when you left the company and avoid having to explain employment gaps. This is bad potentially because you cannot do anything to your 401k until you are technically not an employee anymore therefore you gotta let it sit there for a few months. You also cannot collect unemployment while receiving your severance because Nielsen reports your technically still employed. You can however get another job and get your severance. You’re more than welcome to let Nielsen know you got another job—I’m sure many would want the company that’s literally about to ruin your lives know you got another job so they can sc--w you yet again. Good luck y’all the market is tough but you got this.
I know they cut it in half from 2 weeks/year served down to 1 week/year served, but someone before said everybody gets 2 weeks as a base severance then the additional weeks per years served. Can anyone confirm if that's still the case?
Also, do they prorate it for partial weeks? It would really be horrible to work 10 years and 364 days and have them round it down to 10 years of service.
lol
somebody in mgmt got winged by a comment here lmao
"you people are children"
Hi Karthik! Hope you enjoy your fat bonus!
you people are children
thanks pickledick .
Thank you Richard Pickledick, your explanation is spot on 😂
TF? 😆
Thank you Richard Pickledick, your explanation is spot on 😂
Basically, before, nothing changed in terms of your paycheck, it was actually a little bit higher because you are no longer eligible to contribute to your 401(k). So, a person with Nielsen for 10 years received 20 weeks of pay. Basically, five months of a regular biweekly paycheck. Now, a person with Nielsen for 10 years receives 10 weeks of pay. So you receive regular biweekly paychecks for 2 1/2 months roughly.
I hope that makes sense?
Here's the new severance package explained:
It's Karthik's foot hitting us all directly in the ba--s, while he spews more word salad out of his mouth during another Townhall. Then he goes home and jerks off to the memory of it.