Anybody knows if we are eligible for unemployment if we were laid off from CA Technologies with severance?
I'm just trying to get all the information I might need soon in order and this is the one question I have not managed to find an answer for yet.
Anybody here can help a guy out?
To the question poster, Disregard post by Post ID: @T6HINry-3gho. The first reply is correct and will vary by state. Been there. What state r u in?
Severance doesn’t vary in the US. They have a plan that is documented - 2 weeks per year and it caps out at 1 year. More generous than IBM - they cap out at 90 days.
Another topic explains that severance may vary. In their case they received 2 weeks for every year.
Anybody know what the severance packages are looking like?
That one time payout can be a double edged sword. Yes, it is great to get a big chunk of cash up from. Many of us are near or at the cap of one years pay. The bad? Depending on when you get laid off and how fast you find another job, you might face a huge tax hit.
I will post soon again let you all know. No way I survive this one
"In some cases you apply for unemployment immediately and severance comes after a certain period or time."
Actually I don't believe that is correct. CA severance is paid once you sign all paper work. It literally can be paid out in full in the next pay cycle (at least what I heard from others in the past) This next part likely varies by state, but often unemployment can only start once severance "runs out". So if your paid 4 weeks severance starting May 15 while CA will pay it in full.. However its basically like them keeping you on the payroll until June 15. So then you probably cant file UE until June 15
Double dip, baby
Yes you get both. How to go about will vary by state. HR knows the rules and will guide you. In some cases you apply for unemployment immediately and severance comes after a certain period or time.