So the $ amount we got for the severence on the letter- is that in ADDITION to the 2 months of Warn Act pay? Or do we subtract our 2 months warn act pay with that $ amont we got on the severence letter?
Please no trolls.
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A severance package is pay n' benefits a hommie receives when he or she leaves employment at a cold-ass lil company. In addizzle ta tha hommie's remainin regular pay, it may include a shitload of tha following: An additionizzle payment based on monthz of service.
I'm so sorry. If this is true then Devon has really screwed over some amazing people that worked so hard and gave so much to them. Just know that the employees who are left are equally disgusted at the way Devon has handled this. Everyone I've talked to that wasn't laid off is looking for other jobs because of how our coworkers and dear friends were treated. We miss you and aren't far behind you on our way out the door.
The WARN act only ensures you get at least two months. If your severance was calculated at say, 20 weeks, you only get 20 weeks of pay. WARN covers the first 8 weeks, then your severance kicks in for the remaining 12 weeks. However, WARN does give you benefits for those same two months. If you were laid off, say last year, you still received the same number of severance weeks, but your benefits ended the day you were laid off. Your LTI does vest, just takes a couple of weeks. The portion of your 401k you put in is yours; however, if you were employed less than five years, you do not get the unvested portion (neither the match nor the additional Devon put in). Your fidelity statement will still show an unvested balance - if you leave your funds in Devon's 401k and ever come back to work at Devon, you can eventually vest that unvested balance. However, if you never come back and/or transfer your money, you lose that unvested 401k balance.
So you got more than two months and you are complaining? Be thankful they gave you more because they are only obligated to give you the two months.
If you wanna get into this boysoul...
Gotta pay the troll toll
I am more confused now
I only think the two months is minus if you go over a year. Basically th warn two months and severence can't exceed a year. I agree fu(k Devon
Strata said LTI did vest, but may take a few weeks.
Your 401k is yours from day 1 till today.
401K vested if < 5 years ?
Your LTI is not vested either.
So, that's how Devon deals with layoffs ? If those reading this post have the same question, we obviously were mislead. They shouldn't have to mention WARN and we could immediately apply for unemployment. Oh I see, you had to comply with federal regulation, but at our expense. F$$K YOU DEVON !!!
I read it as minus. You get full benefits during the WARN period and continue getting paid. But the total of weeks you will get paid is the number of severance weeks, starting today.
If it's severence minus 2 months, this severence really sucks
Total severance minus the two months. Yup it sucks
I have the same question. I was thinking since email was sent out that you get 60 days before severance kicks in. Please don't tell me this is not correct !