What can one expect on the day of being layed off? I know a person typically doesn't know in advance whether they will be severed or not, but how does it typically go down? Any insight from someone that has actually gone through the process would be helpful. I am preparing myself mentally and emotionally for next week. I just want to know how it happens exactly and what I should expect for a severance package.
Thank you and God bless all.
If you don't mind me asking, what was the severance package you received?
Also, your level and years of service.
I knew in advance and was still treated like a criminal on the last day. You go to a room, security stands outside; HR and your manager on the inside. They give you a goofy little speech, tell you your severance, let you know you basically have to sign the agreement, and then you are escorted out. Then you drive home listening as loud as possible to Free Bird and It's a Beautiful Day!
I love state street it's going to allow me to pay cash for a house.
After 5 years here, getting laid off in the next 30 days would be absolutely amazing. I would like nothing more than to get a severance and be able to collect for the rest of the summer. Probably never have the opportunity to enjoy a whole summer again in my life.
Jay, if you're listening lets get this ball rolling. I'm not getting any younger. Like to do this while I am in the early part of my late 20's while I still have a chance to get out before I am trapped here for ever.
You are not allowed to go back to your desk area. Your coat is brought out to you and along with any other item you need to get home. All other items are boxed up and sent to your home address. You are treated like a common criminal--a thief! You are not given the decency of being treated like the dedicated worker and human being you are.
What I have written above is true but comments from others who have commented are also very accurate. The day you are selected to be severed by State Street will be the luckiest day of your life. After the initial shock is over you will be filled with pure joy and happiness knowing you will never ever again have to do work another day for the most toxic of companies.
Rejoyce--you are free! Free at last! God almighty you are free at last.
Do you get to gather your stuff? How does that work?
Not sure of the whole process first hand, but what the other responses have said sounds accurate from what I've heard. However, I do know that you'll probably get high fives on the way out the door from your co-workers. Everyone around you will be overcome with jealously that they were not the one chosen. You get to walk right out of prison and be thankful that you do not have to serve a life sentence like the other inmates.
Once outside of the building you will feel overjoyed that your life has been given back to you and that you were able to finally escape even though the action was involuntary. No longer will you be bogged down emotionally or spiritually in such a toxic and loveless environment. Now you can dump the baggage, see the light and have the option to live life with a fresh perspective. It's basically the best gift you could receive. Look back in a year and I doubt you will say otherwise.
I wouldn't take either personally, and am quite thankful that severance is given in these situations.
Would love to know how many people would leave if they found out the got nothing besides unemployment.
Most of the lifers I work with are only sticking around because they'll get 9 month of pay when their ticket gets punched and then unemployment for 3-6 months. Not bad at all.
Not sure what is worse. Being made to come to work and train your replacement or being walked out like a common criminal.
I gave 15 years to that company. And they treated me like a criminal. It was humiliating.
SHOCK, VOID, ANGER, DESPARATION,LOSS OF CONFIDENCE, GENERAL FEAR OF FUTURE. THE WORST-HELPLESSNESS - having no control of what just happened or what to do next.
Yep, that is about how it happens. If you are not feeling loved and not given anything new, then your number is probably up. What you get depends on your level.
I remember after being Forced to train my replacement or else no package.
Having to come to work for 1 month just to sit at my desk and read a book, watch movies on my Dvd player.
Walk around the building hanging out in the caf with people .
Reason is I was not allowed to do any more work for the company or be involved with anything going
on in my dept. I asked my Mgr to please let me go instead of having to come into work for 8 hours with nothing to do.
My mgr told me I had to come in each day until my end date came.
Sounds exactly as it happens. Manager and HR, Job gone, HR asks do you understand that you are no longer an employee. They explain the package, advise you to have an attorney review it, get it returned by a certain date, what it means if you don't sign it, then you are escorted out of the building.
You suddenly get called into a meeting with your manager and HR. In my case my job was going to India so they said I had to train my replacement all the way to the end to get my severance, which was 10 weeks plus 1 week for every year of service. I was a sr associate at the time.