Just in case I'm among those affected in this - what seems to be endless - round of layoffs, does anybody know how long it takes to receive severance payment?
In addition, what happens to medical coverage? Are we covered until the end of the month or do we get cut off on the day of the layoff?
It might not be a severance distribution in full. I believe they call it “supplemental unemployment insurance”, and ends sooner you get a new job before the “severence” is entirely paid out. Good luck!
Mine was more generous than 2 years of service as it was based on title/grade. A document received stated 2 weeks for every year or x depending on grade whichever is greater. Based on years I should've received 8 weeks but I received 12 instead. Benefits carried through the end of the month my last SUB payment was received.
Your severance will depend on your length of "service". Mine was 2 weeks for every year with full benefits during that time. Hope you are one of the lucky ones.