Anyone know what the severance package in the US looks like ?
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Offered VERP and took it, after checking with HR. They said if I were to get laid off, I would get NO benefits (Severence and other perks). So I took the VERP. It was a decent package for sure but I was not ready to retire. I was lied to by HR. I cannot collect unemployment, were as others that did get laid off, did get severence and perks, and can collect Unemployment. SAP pulled a fast one.
Is bonus part of the 2 weeks per year calculation?
I just got hit today from Palo Alto, it was 2 weeks per year with a minimum of 12 weeks pay, plus six months of COBRA and unvested RSUs.
if you were offered VERP and get cut, they give you that cause they don't want legal issues. all others get 2 week/yr
So May 31st as last day doesnt sound like folks are getting 60 days?
What is the layoff rule in California?
What is the Required Notice Under California's Mini-WARN Law? Employers covered by the mini-WARN Act must provide employees with at least 60 days notice before a layoff or plant closing. This applies to employers that have 75 or more full-time employees, and applies to layoffs of 50 or more within a 30-day period.
NA - 2 weeks/yr + 6 months of COBRA + All unvested RSU - May 31st for most but some members were given 6 month notice period as they have to do KT
It’s def 2 had my hr meeting
From people that received the severance notice, severance package is 2 weeks per year with lump sum payment for 5 months of COBRA. Last day is May 31.
In the US, VERP is 4 weeks per year + 8 months of COBRA. For the non-voluntary, it is 2 weeks per year + 6 months of COBRA.
VERP is 4 weeks per year of tenure. Not sure about severance
4 weeks per year (or more!) would only be fair.
He-l, we are talking about colleagues who put in more than their fair share of effort.
I was told it's 4 weeks per year.
Hear it's 2 weeks per year