Anyone have history or knowledge into whether V through U has a prayer at severance/benefits package? No doubt VPs and even E/S will walk away with something to help weather the current storm. Particularly curious about health benefits, given the pandemic. Seems like WARN would provide 60 days, maybe? I started at Nike before the pandemic hit, and worried that my new employer will soon be my former employer.
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Bumping this, in case anyone knows anything about severance and health care coverage for non-senior or tenured employees. I’m curious if they don’t give the advanced 60 day WARN notice to individuals getting laid off, if that means a minimum 60 days severance/benefits?
Just to clarify...COBRA is not a gift, nor form of compensation from NIKE. They include it in their “exit” conversation like it’s part of your total benefit. Yes and no.
But, please take them up on it, especially if you live in OR. YOU pay the monthly premiums, not NIKE. By Federal law, you’re being given a temporary extension to stay in your employer’s group. Why should you? First, the NIKE health insurance is far better coverage than you can find on the “open market “ ( where you only have few carrier choices). Second, if you have or a family member has pre-existing conditions, good coverage is getting harder to secure. Lastly, you will eventually have to switch over to private coverage anyway so keep the premium coverage as long as you can. Also, when they say “X “ number of months, try to negotiate your last day to be the 1st of the next month. I think if your effective date is like 6/27, for example, coverage for the last few days of July might constitute “a month of coverage.”
Next, be very careful how/when you schedule procedures, Med /dental appointments to insure you are covered at time of service. Also know that you may be inside coverage window and later discover claim time refusals, lag time etc. Eventually, the claims get paid. During a pandemic, your job is to make sure you and your family have no interruption of coverage. Stay well, you’ve got this!!
For an outsider, can anyone shed some light on the titles that typically correspond to the band levels?
I’m a aware of the VALUES hierarchy, but all the comments make it hard to parse what lines are drawn at between U, E, & S.... I assume that VP and beyond are outside the band? But how does Director/Sr Director, Manager/Sr Manager fit in?
@1ltw, thank you for sharing. What was your severance beyond insurance. For example, was it 1 week per year of service + PTO balance + final paycheck up to the date of separation? Other?
I was part of the 2017 layoffs. I received 3 months insurance and then the option for COBRA. COBRA was/is insanely expensive. We went through OHP. Look into it and don’t be afraid to find a marketplace specialist, they can be lifesavers and find you exactly what you need. Our OHP because of our income was around $340 a month for a family of 3. COBRA came out to around $1100 a month.
Cobra does not cover premiums at Nike rates - it is very expensive.
@1mlj Wow, not even one week for each year of service, that’s a disgrace. No PTO payout either?
@1m1j - Ugh, I hope the person you know is okay and glad they received some severance. Thank you for sharing what you know. To clarify, when you say COBRA, does that mean covering the premiums for 6 months?
@1mlj, thank you for sharing and I wish your friend all the best. Was it surprising that U band employee started getting laid off already? I though we had more time
I heard from someone today that just got laid off. U band, 12 years of service, about to take sabbatical and 4 weeks vacation on the books. Severance was 10 weeks pay and 6 months of Cobra.
@fnx, PTO and Sabbatical are not the same thing - two different categories.
Nike had traditionally always paid out PTO when someone left the company. That was either voluntarily or through a lay off. That being said, the leadership is way different now.
Oregon is a state where you are NOT obligated to pay someone their accrued PTO. California and some other states have laws that force you to to but...
My experience...no payout for Sabbatical.
@zee, thank you for sharing. That sounds about right to me. Makes one think though about what JD said regarding "relative generosity" for those impacted! Just curious.
- and I understand they need to payout all Remaining PTO etc.
Not sure about accrued, yet unused sabbatical hours.. as you earn them for services rendered I’d think they legally have to pay out those hours also.. anybody know?
Stay strong all.
I was U band, 9 yr employee laid off from whq in aug 2017. I got 4 months of severance.
V thru U band might receive 1 week pay for each year of service, based on earlier re-orgs. But we will need to see. I understand this jumps to 2 weeks / year from E band.
Employees at the European head office have the benefit of Dutch labor laws, and I think must be paid at least 1 month / year of service.
Best wishes to you all.
JD's announcement said Nike would provide "relative generosity " which means if you are E band or above, you will get a generous severance package. If you are U Band or below, you'll likely be living with relatives.