Can anyone shed light on what the severance packages are looking like? I've heard from past layoffs that it was a couple months of pay (while possibly still working there) and then 2 weeks for each year worked (capped at 52 weeks).
Is still accurate in 2023?
It’s spelled out in the employee handbook under separation of pay. In the US they don’t have to give anything so be thankful. 2 weeks for each year, and max of 1 year. After that you can file for unemployment. Good luck with an internal move unless you know someone and they have an open req. Several requisitions have been canceled or frozen until after the end of the 1st qtr. In the UK it’s mandatory and is spelled out too.
Severence is laid out in the employee handbook. ( in US the section/pdf is called separation pay).
Impossible to say yet.
Severance in the UK was communicated several months ago in one of the emails. One month of pay for each full year served, capped at 12 months. In addition, to show mercy, Citi also floors the pay at 3 months regardless of the years served. So new joiners are covered, but that is standard across US companies in the UK, it is not something special one gets only at Citi haha.
Depends on the country surely. I am interested in the UK.