Can someone let me know what is our Severance Pay Policy - I've been with Lockheed for about 2 years and our plant may close w/in next 18 months.
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Is this severance package based on years worked?
Provided you sign the legal agreement, that you will not sue LM for any illegal labor related actions they may have done to you during your tenure, you can get their "supplemental severance package" that gives one week for every year of service.
The Severance Plan is provided by Lockheed Martin to all eligible salaried employees of Participating Employers. >>> The basic Severance Benefit payable is two weeks Base Pay. >>> The Supplemental Severance Benefit may pay up to a maximum of 26 additional weeks of Base Pay. >>> Severance payments will be in a lump sum and are subject to taxation.
I think you get one week for every 2 years of service plus they give you training allowance
Same here - I would not mind if I was to be let go as I am planning to leave in Nov...