Just a FYI . This is confirmed . 1 week of pay per year as per the employee manual.
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At my last gig severance was one month of severance for every year of employment, capped at 6 months. Man , those were the days. I was RIF'd after 15 years and got the 6 months. Yeah - I'd be torqued off too if they had reneged on that arrangement.
Also since 08 there has probably been 25 rounds of layoffs.
It has been 2 weeks / year for the past 16 Years. If you asked anyone in HR then they would just tell you what the company policy “technically” is - which according to the handbook is 1 week per year.
Basically cutting it down to one week is a slap in the face to anyone who has stuck with the company and has made it through countless layoffs.
There was a layoff in 08' and I asked about severance. I was told then that it was one week per year of employment. It's not a generous severance benefit but I don't think this is anything new. Personally I don't count on receiving any severance if I'm RIF'd.