Based on Conrad, now everyone will be getting 30 days, that's it - no other factor impacts it - if you are laid off you will be getting 30 days, no exceptions, forget tenure and all years that you worked there and forget all nice options and things like taht - you are getting 30 days and that's it
5 replies (most recent on top)
Only 30 days severance check? I would almost be willing to shove that up my managers anal cleft rather than cash it! For all the grief this company has caused me, coworkers and family time lost! Lots of promises in the 38 years I have been there. Great times in the past, but past has passed. Unfortunately they have been led by clueless management that has destroyed a once great company. It started with their ideas of "Cutting Costs" will bring prosperity. D.A.'s all the way.
I don't think that's going to fly in Canada. We have some pretty fierce labour laws up here.
@1luc nails it - that's the next step 100%
At some point they will try to stop paying us - something like 'let's see what happens if we decide not to pay them'
"The separation allowance payment as per the individual separation allowance Plan irrespective of the circumstances under which ISAP is provided is a payment for a month.
"For personnel coming under the company’s growth driven profit sharing program or any program offered in place of the former, one month salary is paid at the ISAP. It’s paid as lump-sum considering the retiring individual’s base salary amount.
"A severance allowance payment made under any of the company’s severance plan is in place of any other form of separation payment to which the employee might, is or may have become entitled to. However, a retiring individual is not automatically entitled to severance allowance, and it will not be released for reasons other than those that are listed above. In case, the employee has debts outstanding to IBM, no separation allowance occurring under any of IBM’s plan will accrue.
"However, if the outstanding debts are repaid by an employee, a severance allowance would be paid in full. Indebtedness to the company could be a debit balance, not returning the IBM-owned property, an outstanding travel expense account, unpaid tax loan, credit card debt and an outstanding balance on an installment-based purchase of an IBM product or an IBM US mobility plan equity loan.
"In case of re-recruitment by the company or any of its subsidiaries as a regular employee within 30 days of the termination of the employment, IBM has the right to demand repayment of the entire ISAP payment."