So what in general is the typical employee severance package offering for a 20+ year Employee.
6 Months Pay?
What happens if you dont go voluntary but get axed later, you get zero?
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I seen it as 40,000 difference in pension lump sum.
Who can explain the benefit of "hitting the magic number" vs not hitting it. (Years plus age)
02/2018 I got 28,000 and change for 3 weeks short of 20 years. It was hard to go but after a few weeks it turned out to be the best decision I had ever made. No stress, No more BS, No more threats of being laid off daily, the list of reasons never stops. Don't get me wrong I loved my work and was good at it but just so much BS and stress. Every year so many older techs had heart attacks and it's a wonder that more did not, I was having high blood pressure problems 180/110 and was on medication. Now that almost a year has passed I'm off of them 120/80 get out while you still can that place will finish you.
You get 2wks pay up to max of 30 weeks. Company wide. They re-wrote the severance policy when CTL and Level 3 merged to lower the number of wks you could receive. If they offer voluntary pkgs sometimes you get additional benefits. Or at least you did prior to merger. Now, who knows. I heard they were watching call center reps looking for any reason to terminate so they dont have to pay anything. I'm hoping for a pkg. Thought for sure they would close our office by now. Still there for the moment...
The package for craft is different.
My understanding is the Voluntary and Involuntary (RIF) are the same as specified in the contract or if mgt of HR site. I have 39 years and would get 30 weeks. This is cut in half if you do not have performance issues as stated in your last annual review. If you are fired....you get nothing. I would suggest you go to the HR site for current info.
Also a reduction in penalty so if you are 60 you will receive your pension as if you are 621/2