Looking for a little insight on exactly how severance works..
At what rate is your lump sum taxed?
Can you keep your life insurance?
Do you lose your pension?
What happens to your 401k?
Are the job placement programs they offer helpful?
Any other wisdom or insight is much appreciated.
I was let go 4 years ago from TGT after working there for a couple of years. The reason was basically that I questioned the way things were done and my unethical manager, who did NADA all day, didn't like it, so she worked (for the first time ever) on getting rid of me. Since I wanted to make sense, improve processes and do a good job, I was bullied out. And like with all bullying, it was humiliating, unjust and very damaging. I was hired by another large corporation soon after and I am incredibly glad for my Target experience, because it made me appreciate EVERYTHING about my current job ten times more than everyone else around me. Working somewhere else after Target felt exactly how it feels when you wake up from a horrible nightmare and realize that's all it was. I know life is hard and work is tough, but at least I'm back in a world where right is right and wrong is just wrong.
I feel sorry for those of you who are smart, hard-working, creative people and don't deserve being let go; I did meet some of you there and mistakes will be made during this process, that's for sure. Your sin? Myopia, denial, gullibility, submissiveness. I suggest to work on that, and I mean it with the best of intentions.
On the other hand, I feel ZERO compassion for the dozens of useless, lazy, cliquey and borderline criminal parasites I got to meet during my time there. And I feel sorry for those honest employers who will feel tempted or coerced into hiring them. Caveat, emptor.
Good luck, good people! Bad people? I have nothing else to say to you.
You don't lose your 401k or pension, they just stop contributing to it. I have been gone 5 years now and still have both. Well, think they moved the $ of my pension to my 401k.
You don't lose your 401k or pension, they just contributing to it. I have been gone 5 years now and still have both. Well, think they moved the $ of my pension to my 401k.