At least the severance package is decent this time. To be honest, I wouldn’t have minded being laid off now just to get it. What worries me is the chance that future layoff rounds might come with worse severance, which would make the whole situation a lot harder to deal with.
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What I don't get is if this is about saving $$ from wage bill, why cut 20yr+ folks close to retirement if you have to pay 52wk severance?
With 6months left of the FY, haven't they just doubled costs?
Or is this the next write-down to prevent any chance of a bonus?
I was with Cargill for over 20 years until I was one of the 5% reffed. I will say they have always honored their policy on severance in the US during lay-offs. Whether they change the policy is up in the air. Always keep up to date with all those SPD (summary plan destriptions) on the internal site
As for myself, I'm taking the 52 weeks payout based on my years and riding off into retirement. I feel incredibly saddened for those not as fortunate and for my many friends still there left to pick up the pieces from all the chaos left behind.
Has anyone received the severance agreement to sign?
What the severance looks like?
For the USA in 20+ years I've never seen the severance NOT be 2 weeks of pay for every fully completed year, with a 8 week minimum and 52 week maximum.
I've seen a little variability in the 60 day notice (sometimes its a little less, some people have gotten longer), and some people have to actually work during the 60 days and others get paid for 60 but basically exit the company immediately or within days. This last round a lot of people were notified on Tuesday and done yesterday (Friday) but still paid for 60 days... then severance starts.
I agree with you, TONS of people were hoping to get the severance just to get out of the toxic situation Cargill has become unfortunately.