The Company will pay you 2 weeks pay for every year of service. For example if you completed 10 years of service, the company will pay you 20 weeks pay. That's equivalent to 5 months pay. However keep in mind you will be taxed at a rate of 47% leaving you with just a little over half your salary.
This seems like relevant information to be reiterated today. I don't have personal experience with it, but several people have posted similar numbers, so I am leaning towards trusting it.
to reiterate.... i left the company no more then 1 1/2 months ago and took a package after being lied to over and over. I have no hard feelings towards anyone in the company as it open doors to new things for myself. Just want to shed light on the severance... you DO get taxed about 47 percent. I was just under 11 years so i only qualify for the 20 weeks since I just missed completion of the 11th year.
You are right the severance does get taxed at close to 50%. Mine was back in 2013. The more you know the better you can plan. Good luck to everyone still left.
I know we are all frustrated, but that's not the reason to be rude to others. Besides, that's the fastest way to get your posts nuked and IP blocked from posting here, by site admins), as bulling and personal insults are not allowed (can find their rules in the footer). Just sayin"
Excuse me idiot you would know if were you were the one being tax. When you get SERVANCE pay you are in a different tax bracket. I personally know from experience. dumb--s
Who keep posting we going to to get taxed 47 percent idiot no one can get taxed half your pay if you getting paid bi weekly not lump sum .
Go union don't be fools
Same work load.. 1/2 staff. We are getting crushed with work. Supervisors don't care, management doesn't care either. Quantity not quality is the name of the new game
Didn't know that