I know corp policy says the standard 16 weeks then 2 weeks for every week worked, up to 52 weeks.
But has anyone received severance? Is it lump sum or pay as usual? My orgs senior leadership was let go, and I am not ignorant enough to think that I can’t be next.
Mysteriously a lot of my work is no longer needed so I can see the writing on the wall. I just want to be prepared and start job hunting with a plan on how I will be able to provide for my family when things go south.
I'm so sorry to the 10 year employee, it's not fair at all that a person with 1 year or 8 is getting the same package, while I do appreciate and agree with a decent base set so those with less years have a run way of pay to find work, I also think there should be an additional factor added to longer term employees to balance it more fairly.
I was at the company almost ten years and I’m getting 18 weeks severance… doesn’t seem like enough but nothing I can do about it ….
For the first 30 days, notification time, it was normal pay. After 30 days they stop contributing to your 401k and all other deductions are stopped (ex HSA) but still receive on the same schedule. So your take home pay is larger. Cobra is offered and is subsidized, for me it cost about 1/4 what the retiree benefits cost.
In the state I live in I am getting unemployment on top of severance.
On severance now after being laid off 2 months ago. It is pay as usual.
"I know corp policy says the standard 16 weeks then 2 weeks for every week* worked, up to 52 weeks. "
I'm certain it was just a typo, but for those who may see this and not know. 2 weeks for every year* worked up to 52 weeks.
You get paid on the normal schedule.
Some states allow unemployment benefits during severance period, while other states do not.
It's pay as usual from what I understand.