Thread regarding DXC Technology layoffs

In Australia the years of service payout is largely tax free and the only components that are taxable are the unused long service leave and any annual leave balances. This assumes that the employee getting the flick does not exceed particular tax free thresholds. In my case with 20+ years of service and a $140k payout (cash in hand) I only paid $15k in tax which is why a WFR is not to be overlooked.

Another key factor that determines the size of the payout is the enterprise agreement that an employee is a member of (EDS / HP) as they both have different payout limits. The EDS agreement is limited to 40 weeks of pay which equates to 13.3333 years of service. The Americans will be drooling over their comparatively poor payouts ... you live in the wrong country!

"The baseline is : 2 weeks pay for a year of service up to a maximum of 12 months salary." where is that?

The US gets a MAX of 8 weeks, nothing more.

I was made redundant last year in the UK on enhanced terms which was about 3 weeks per year and no cap. I know some who were made redundant in December they got 2 weeks per year and again no cap. I can see them putting a cap on the redundancy payment soon. As for tax the first 30k is tax free

Why not just pay taxes as required rather than trying to withhold your tax or trying to save a dime here and there.

Yes, every one needs money and everyone wants more money than they have.

Just get a credit card.. simple.

The baseline is : 2 weeks pay for a year of service up to a maximum of 12 months salary.

Don't confuse the witholding rate with the tax rate you will pay for the year.

It is taxed like a bonus and is going to eat up a good chunk of your severance. I believe your calculation to get the weekly rate is correct from what I remember.

I was with HPE and I didn't get sick days so I'm not sure about that.

Hi. I'm the original poster ( @MTO7KnQ-5tagq ), and I'd like to thank ( @SotWtdD ) for bringing my questions to a new thread.

I thought it was clear from the tax question that I am referring to the US. Sorry if my post was vague.

I am finding it interesting, though, how this is being handled in other regions.

In the UK it depends where you are and there are age bands across your service that attract a bit more or a bit less money but it works out at about 2 weeks pay for a year's service up to a maximum of 12 months salary. You then get up to 3 months pay in lieu of notice on top of that.

it will depend in which country you are in. In my country the value of all extra benefits are also added and this brings your salary to a higher level. But in our case taxes take away nearly half of the severance pay