#severance

The Insider: The one who actually knows what’s going on behind closed doors. We’re all just here for your leaks. Keep the scoop coming.

The Doom-Scroller: The person paralyzed by layoff anxiety. If you’re this stressed, just close the tab. The cuts are coming whether you read about them or not.

The Lifer: The employee who’s been at AIG too long and doesn’t know what to do. You can Leave. Just Walk Out! If it su-ks, hit da bricks!

The Rookie: The wide-eyed new hire. Do yourself a favour and read the archives. You’re looking at your future. Get out before you become a permanent fixture here.

The Alumnus: The former employee who can’t stop checking the ex-girlfriend’s Instagram. You made it out! Go enjoy your freedom and stop posting here.

The Grudge-Holder: The one who really hates the Retail Casualty CFO. You’re shouting into a void because they aren't reading this. It’s time to drop the vendetta.

The Offshored: The one venting about their role moving overseas (and is a bit racist about it too). We hear you, but there’s nothing you can do. No one is safe from the pivot.

The Speculator: The "Any rumors?" guy. Yes, there are always rumors. It’s either layoffs or a buyout, but it’s all noise until the checks stop clearing.

The "Wait for the Severance" Strategist: The veteran who actually wants to be laid off. They’ve crunched the numbers and are actively rooting for their own department to be laid off. Good luck, we’re rooting for you too.

The Ghost of Corebridge: The person who still hasn't figured out they're no longer part of AIG. You really need your own forum.

The HR Plant: We see you.

The Remote Work Zealot: Regardless of the thread topic: Layoffs, earnings, whatever. They will find a way to argue that forcing people back to the office is the root of all evil.

The Pension Clock-Watcher: The person who has been there 25+ years and wants another round of VERP. Good luck but it’s not happening anytime soon.

Who did I miss?

So the transitional group of employees will have benefits through Sept 30, 2026. Funny that that also happens to be the last day of their fiscal year...

It’s getting quiet .Beside all the Scarborough retirement meetings .No one is talking about any offer of a package .I Think there are a lot of people in all divisions of the field ops tha want to leave .Whats the big secret just spill the beans when is it how big will this package big will I be able to accept this package . I mean really

et tu, Wells?

eligibility: age + service years >=70

Eligible US employees include workers at the senior director level and below whose combined years of employment and age total 70 or more.

We’re all getting hit with the same weekly barrage. This isn’t shared responsibility, they’re offloading theirs onto us. The nonstop AI push is conditioning so no one pushes back when the PIPs start, because PIPs are cheaper than severances. Meanwhile ROI looks great and the shareholder buybacks keep flowing, so leadership acts like everything is fine. As long as the numbers stay green, the people doing the work don’t matter.

Severance is based on a formula. The formula takes into account your years of service and your grade level. The maximum amount of weeks is capped for each of the grades. For example, a grade 40 with 10-14 years of service will get 20
Weeks of severance. Additionally, to get around WARN notice requirements, they may set your actual termination date into the future(and you will get paid regularly until that date). Thy will also pay your benefits via COBRA for 6 months . While getting laid off su-ks, the package is usually fairly generous
OP: @a4+1kpp75mr6

Thought this might be useful ahead of layoffs.

This morning, in a meeting including Michael Green and SVP Ian McCoy, the remaining Franklin Templeton employees servicing the last calls transitioning back to FT, were told that they would not be laid off, they were being transitioned over to Heritage Funds to service their calls due to their struggling to meet Service Level Agreements, beginning on 04/27/2026. This was the lay off date that they were given last week, after waiting months on the expectation of leaving with severance. Now, they will be trained on the new funds and take those calls for an indeterminate amount of time. In a later meeting with the managers for those funds, the FT employees were told that "if you show your value" they may get an offer to permanently join. Those not greeting this news with abject joy were told to be glad that they have a job. Those who are unaware of this site were shocked, those reading, not so much. This is the FIS playbook in which the C suite can report the savings on the severance and get their big bonuses for such innovative solutions.

When the Washington Post announced mass layoffs, in February, the company offered severance packages to the roughly three hundred and fifty staff members losing their jobs. To receive their severance, these employees would have to sign their packages by April 10; they would then begin receiving the payments after April 30. But after the terms were set, something strange happened. Editors who were overseeing the laid-off employees began contacting several of them, asking them to return—not as full-time staff, but to work under what their union called a “delayed layoff.” These editors had been given little say over who was originally dismissed, but in the weeks since, they have appeared to be driving an effort to bring certain reporters back to the newsroom. According to Kathleen Floyd, a communications lead and internal organizer at the Washington-Baltimore News Guild (WBNG), the bulk of these reach-outs happened in March; a few are still trickling in. Under the updated terms, the employees will resume their duties through July. “Everyone’s just doing the best they can with this really sh---y situation,” a Post reporter said.

https://www.cjr.org/analysis/washington-post-tries-regroup-after-major-cuts-layoffs-delayed-rehire-former-staff.php

Has severance remained the same or have there been any changes?

Or maybe can point me to where I can find that info?

We lost too many folks lately to quitting. Why are you doing this horrible leadership favors? They're overjoyed whenever anybody leaves because that means they save money on severance. Just wait it out. At this point, it's a matter of time before most of us are laid off. Which means that you're losing out on severance by walking away.

The Vermont Packinghouse, a meat processing facility, is being sold. Its current owner is The Walden Local Meat Company. Approximately 53 employees were notified of layoffs and given severance. A new owner with industry experience plans facility upgrades and expanded cold storage. The state was notified, and the Department of Labor will assist with job placement.

North Springfield, Vermont

https://www.wcax.com/2026/04/21/springfield-meat-packing-facility-sold-53-employees-laid-off/

Lot of management favorite employees were RIFed.
They got good severance packages.
Were rehired back as consultants @ $100 per hour rate.
Some middle management managers are playing this game.

What happened to management doing the right thing and being transparent when potential reorganization was in the mix? After more than a decade, I recently retired only to find out that my position was changing and becoming 2 positions. Had they been transparent, a severance package would have come my way - nope. They stayed silent at my expense. Made me remember it’s only a job - and I cared more than management did. Has this happened to anyone else?

This is for non-PayPal folks, if you are reading threads please skip. It is AI generated based on today's discussion, the summary is for Journalists and Social Posters so we can spread the word in a unified way. We cannot change what the execs are doing but we can still spread the word and at least have some people be aware of what's being done to the worker:

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## PayPal rumor digest - April 20-21

Consolidating what is being repeated across threads:

• This does not look isolated to one org or one country. Reports are pointing to US, APAC, EMEA, Ireland, and possibly Spain. Main threads: @OP+1kpnme7ft, @OP+1kppctqsc, @OP+1kppjaw72
• The main warning sign seems to be the "Important Business Update" invite: @OP+1kpnme7ft
• Specific claims from that thread include an entire team of 40 being let go @a2+1kpnme7ft, US remote meetings @a5+1kpnme7ft, and US hit with severance of 10-26 weeks @d1+1kpnme7ft
• Locations / orgs mentioned include NA MTS @a6+1kppctqsc, North America + APAC @aa+1kppctqsc, Crypto in Guatemala @aq+1kppctqsc, and Spain office activity @dn+1kpnme7ft
• Ireland keeps coming up via linked reporting and local process discussion: @c6+1kppctqsc, @a8+1kpnme7ft, @a9+1kpnme7ft, @105+1kp93ywqj, plus consultation process comments @b6+1kpnme7ft and @b9+1kpnme7ft
• On numbers, there is no consensus. Estimates range from 25-300 @ak+1kprdja02 to 5000+ @aj+1kprdja02, so take all headcount claims with caution
• General sentiment is that this is another round in an ongoing pattern, not a surprise one-off: @OP+1kprh0pdk

After last day of employment after riff when should severance payment arrive?

Word on the street from a credible source is that tomorrow they will announce the location cuts and on Thursday is when the top 10% highest base pay employees will receive their severance email.

Never understood why they make their cuts based on pay, when your top performers are the ones who are paid the most for a reason.

but is it possible to negotiate your severance? Do we have any leverage in the whole process?

I have more than 15 years of service but am in my 40s. Alight gives me the following info when I calculate my lump sum:

One-Time Lump Sum

No payment to your beneficiary.

If married, your spouse must consent.

To choose this option, you must take all of your pension benefit(s) as a lump sum. Does this mean I cannot get a lump sum when I resign?

“This option is only available to you upon termination and at your Normal Retirement Date, or immediately upon separation if later than Normal Retirement Date.”

Been hearing that since I’ve been with the company for 10+ years, I get two weeks of severance for every year I was employed? Is this true? If so, I heard WF has a procedure in place to actually help keep you from collecting on this severance if you start working for another company within a certain amount of time? Is this true?

Can anyone who has been ISP'd tell me the severance differences between the VSP and being ISP'd? My position is about to be terminated. I was offered the VSP but didn't take it because Im nowhere near retirement. I know the VSP offered 2 weeks per each year worked. Does the ISP work the same, or am I going to be shorted severance because I didn't take the VSP? Trying to figure out my life after giving 18 years to a place I thought I was going to retire that has turned into a complete dumpster fire.

I would like to know how soon to expect what we are owed.

Forgive my ignorance, but this is my first layoff, so I’m not really sure what the procedure is. This is what I’ve gathered so far:

We will receive the WFH email on Friday. Then on Monday morning, those being laid off will receive an email. Within 15 minutes, their system will be locked. After that, they will receive 2 months of paid leave and after that severance, which is correlated to how long you’ve worked at Nike.

Just trying to prepare as needed since this market is awful.

Rumour mill to confirmed that managers M2/M3 are being asked to drop to IC level. Rumor from my M5 level buddy is that the plan is to PIP these folks quickly and work them out without severance. The belief is that most won't be able to show value as IC4/5 if they have been managers for a few years quickly. Saves the company a boatload on severance costs. Also a downgrade might help a few quit themselves again saving seperation costs. The later is already happening in some offices.

SAIT is cutting 30 permanent faculty positions in 2026. The institution faces serious financial challenges. These include a decline in international student enrollment and a provincially-implemented tuition cap. For non-unionized employees, a layoff is typically considered a permanent termination. Affected staff may be owed significant severance pay based on common law entitlements.

https://stlawyers.ca/blog-news/sait-layoffs-severance-pay/

Anyone factually know of the enhanced severance details? I know someone who was laid off a year or so ago and after 12 years they got one months pay and silently finished there two weeks.

I hope it’s better than 1 week a year and some bogus outplacement service.

To age plus years of service equals magic number for full retirement. Employees will retire without an exit severance pkg.

Please share info on severance. I'd just like to know if there have been any changes (reductions) compared to previous rounds.

Dear Team,

Today we are announcing changes that will impact approximately 1,000 team members at Snap, including 16% of our full time employees, in addition to closing more than 300 open roles. This is an incredibly difficult decision, and I am deeply sorry to the colleagues who will be leaving us. You have made important contributions to Snap, and we are committed to supporting you through this transition.

Last fall, I described Snap as facing a crucible moment, requiring a new way of working that is faster and more efficient, while pivoting towards profitable growth. Over the past several months, we have carefully reviewed the work required to best serve our community and partners, and made tough choices to prioritize the investments we believe are most likely to create long-term value. As a result of these changes, we expect to reduce our annualized cost base by more than $500 million by the second half of 2026, helping to establish a clearer path to net-income profitability.

While these changes are necessary to realize Snap’s long-term potential, we believe that rapid advancements in artificial intelligence enable our teams to reduce repetitive work, increase velocity, and better support our community, partners, and advertisers. We have already witnessed small squads leveraging AI tools to drive meaningful progress across several important initiatives, including Snapchat+, enhanced ad platform performance, and efficiency improvements in our Snap Lite infrastructure.

If you are part of our North America team, please work from home today. In the US, impacted team members will receive an email notification within the next hour, including information about next steps. For non-US locations, you will receive additional details about next steps from leadership and HR.

To our departing colleagues: thank you. Your hard work has helped shape Snap, and we are deeply grateful for your contributions. For U.S.-based team members who are leaving, we will provide four months of severance, healthcare coverage, and equity vesting, along with career transition support. Outside the U.S., we will follow local processes and seek to provide comparable support aligned with local norms.

To everyone continuing on this journey: change of this magnitude and at this speed is never easy and it will not be seamless. Thank you for your resilience, compassion, and commitment to one another, and to the community and partners we serve. Our responsibility is to move forward with clarity, empathy, and determination as we build a faster, stronger, and more durable Snap for the long term.

Evan

It would have saved quite a few jobs, I believe, for those who wanted to stay. I know for a fact I'm far from the only one who'd be happy to take severance and run. It's a win/win, so I really can't understand why it's never an option. I know plenty of other companies that offer VOB.

Disney initiated a new round of layoffs under CEO Josh D'Amaro. Severance packages are determined by employee level and company tenure. Payouts range from four weeks to 52 weeks of pay. Some departing staff also received prorated bonuses and health coverage. Disney's severance structure differs from other recent media company offers.

https://www.businessinsider.com/disney-layoffs-severance-employees-marketing-team-josh-damaro-2026-4

My friend at HQ was just impacted. He was JG 16 and he said they wanted him to sign a "mutual" separation form. Then he could keep his Stock options, but get NO severance. He has 20+ years with the company - this is so crazy. So 3M is going cheap now? Does anyone else have more information on how 3M is now doing separation packages?

I'd rather take a package than have to go through this over and over again. I'm being very serious. This place used to have job security. What happened to that?

Day & Ross USA is laying off 149 employees across multiple locations. One hundred of these job cuts are at its Hamilton, Ohio facility. The layoffs are effective May 30. The company stated it lost a customer contract. Affected employees will not receive severance pay.

Hamilton, Ohio

https://www.wcpo.com/news/local-news/butler-county/hamilton/hamilton-transportation-company-to-lay-off-100-employees

The practice of “quiet cutting” is an old practice with a new name. It involves employers reassigning workers to new roles in hopes they will eventually quit so the company saves the cost of severance. SF is trash!

Stay away from the sh-t hole! These are completely evil people that will lie, cheat and steal at any cost to destroy you. Every word that comes out of their mouths is a lie and con. Stay away from SF!

Per the proxy statement I received today, it looks as if Sampath received a 7.2M cash payment at separation. Wow.

Their layoff date is 04/27/2026, next Monday. Beyond that, no information has been provided to employees including managers about what will happen next Monday. The last calls will be transferred back to FT, the employees have been told that they will work on finalizing any outstanding work items.

Details of severance? Not yet. Any word about COBRA? Not yet. Will Monday be a full day? Probably not, but why give employees being laid off anything that might allow them to plan, such as when last checks will be issued, when will severance checks be issued. They still have a whole week to figure it out. Financial obligations of employees still need to be met, regardless.

Reading the Severance Policy from the employee handbook is not the same as confirmation from FIS for each employee. Let's keep the tension wound up until the last possible second!