Anyone know when it should hit our direct deposit? Understood 3/15/24 is absolute latest.
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Can someone share again how the severance is calculated? I forgot about this?
The terms of severance payment timing could be interpreted to mean almost anything. As always with BC - they try to make things as ill defined as possible. Let’s see if they pay at all.
“ but in all cases, in the calendar year in which the Termination Date occurs or on or prior to March 15 of the calendar year following the Termination Date"
Termination date = 26 Jan 2024. Last deadline to pay 15 March 2025 (next calendar year following the termination date)
It is not 60 days after termination date, please don’t listen to the comment below.
Severance is paid 60 days after termination date.
They better pay the termed ppl their severance soon. Alot of ppl are going through a hard time.
VMware's document states the below. Hopefully for people that signed on 1/26 will be paid this pay period 2/16.
If it is paid 3/1 that would be outside of the 31 day timeframe. Whenever I email them about it I don't receive a response.
"Provided the conditions to the receipt of severance have been satisfied, the Company will pay the severance under this Plan within thirty-one (31) calendar days following the later of the “Effective Date,” and the Termination Date, but in all cases, in the calendar year in which the Termination Date occurs or on or prior to March 15 of the calendar year following the Termination Date"
Got this from payroll this week -
Typically, the severance is paid within two paychecks from the time you turn in your signed release (on or after your termination date). If you turned it in prior, the release is held until your termination date for internal processing. Please watch Feb 16 and March 1 if you submitted your form.
Hope this helps. I am working with them on my missing check from this last pay period.
I heard a rumor that the payment was going to be delayed 60-days from mid March.
This IS the next calendar year (from when we received severance letters.)
Read your severance letter again. I also thought 3/15/24 was the deadline. But it says 3/15 of the “next calendar year”. That means 3/15/25. Ba----ds.
No idea. Would like to hear if anyone has insight.