Just morbidly curious if there was a severance package for anyone who's been laid off recently.
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It is taxed like a bonus, I was shocked at how much they took out.
What FrzGcoq-okl is 100% correct.
Per NOV severance policy:
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less than 2 full years of adjusted service = 2 weeks pay
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2 or more full years of adjusted service = 1 week's pay for each full year. Partial year is prorated to the time of layoff.
I recently spoke to someone laid off and he claimed that insurance was carried to the end of the month. Unused vacation was also paid.
None here but I did hear of other locations. I heard a class action lawsuit is in the works