I, personally, can’t wait to be booted. I’ve been here for a long time, and have been wanting to leave for while now. Figured I would also go for a complete career change. I’ve had enough of banking for three lifetimes. I just hope they laid me off this round so I don’t leave for free after years of dedicated work.
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If your job is outsourced and you lose your job as a result you 100% get severance. People say stuff here to stoke fears.
Ok normally when they outsourced jobs they were moving you to the other company. In this case they are not moving you but laying you off. You will get severance they are not moving you to India …who is technically “remote” and more than 30 miles from a hub🤪
Well... That sounds depressing. But thank you for sharing useful info on here.
Personal severance experience.
The entire workgroup, with the exception of Division Manager was laid off, due to all jobs being outsourced to the Philippines.
We were given 6 weeks notice (notified on Valentines Day actually),and were all given a severance package with conditions. No burning/abuse of sick time or vacation time. Job output to remain the same until last day.
Severance was 1 week of pay per year of service as no one in our group had more than 10 years in.
If your severance was under $8k with time worked, they automatically bumped you to $8k. They didn’t say why, my guess is it was the average of the group?
Please correct me if I'm wrong and if I am wrong sorry. I think no severance if the job is outsourced only applies if the person is able to work for the new company. Like a facility manager job that is outsourced and the person refuses to stay on at the new company. I don't think this applies if your job is relocated (like to India) to somewhere else.
I don't think I'm getting laid off 😥 was hoping.
Oh! That's for an entire Business Group or Line of Business to exit or be outsourced. Not just one or a few positions within. Such cases are few and far in between so I wouldn't worry about it.
It's on page 3 under 'Special Rules for business reorganizations'. It's in the first paragraph, second sentence.
"Per the severance agreement, the employee forfeits their severance package if the job is outsourced."
Where does it say that?
Agree, however the issue is that it appears that the organization is set on outsourcing. Per the severance agreement, the employee forfeits their severance package if the job is outsourced. I’m not sure what there is to look forward to other than a hard push to seek employment elsewhere.