For long termers it works out as a years salary providing you've been with the company more than 10 years
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Packet said 25% federal tax them normal Medicare and Soc Security so more like 30%
Based on the November layoff in the U.S. they take out the maximum income tax with holding from the severance amount. Plus, normal social security and medicare. They don't take out health insurance or any 401K or ESPP contributions. What is left you get in a lump sum.
What country is this? Taxes of 40% sound like Europe. What is the deal in the USA and FTL in particular.
That's not true up to 30k is tax free in the severance, the only tax is paid on any advance pay in lieu of notice or pto owed
Dont firget taxes will eat like 40% of that.
What are the packages? Need to work out if worth hanging on for and trying to get, open offer in hand ;-)
details please. UK based?