Any credible info on severance package to be offered?
20 replies (most recent on top)
You'll get two months pay and Cobra benefits.
12345 - agreed. Seems likely that the below expectations employees will be termed for performance and not receive severance. Low end meets expectations would get a severance.
If there is a 2015 layoff I would think it would be at most equal to what happened in 2013, but more likely the bare minimum. Since we are seriously hurting right now I'm more inclined to believe the least amount possible which in the end might be not to do lay-offs but to terminate "needs improvement" employees.
In 2013, it had nothing to do with tenure and nothing to do with age! Supervisors and down got the same time payment - period. Why would this time be any different?
Sounds completely realistic. What company wouldn't pay some long tenured employees 26-30 weeks severance pay. What a mind numbing statement. PS, the goal of a layoff is to reduce expenses to match revenue and production.
@ Anonymous158561...uhhhhh....no
Unfortunately this time it will only be the 60 day WARN money
Multipliers range from 0.5-0.9
12 weeks across the board plus one week for every year of service plus a multiplier for your age.
No one even knows for sure a layoff is happening. The only info on severance would be from 2013.