@2em UnitedHealth offers 1 week of severance for each year of service up to a max of 26 weeks of pay. Maybe they are just trying to keep up with the competition to appease shareholders
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@2em Just search IRIS for "severance" and the policy is there.
@2cz current severance to my understanding is 2 weeks pay for every year of service. So essentially 1 paycheck per year of service. Capped at 1 year pay (52 weeks), or 26 years of service. ie anything longer than 26 years of service won't get you any more severance pay.
It's been that way since the 90's.
That said, I'd be curious if anyone has heard the rumor I have in that they want to reduce payout costs and are possibly going to reduce severance by 50%. ie 1 week pay for every year of service instead of the current 2. The only source I have is a person who heard from a person who sits outside a SLT office. So could just be someone talking out their @ss. But as noted with that .gov site, they could choose to not do anything at all and legally be OK.
@1ve Thanks for the link, so basically, it's up to Cigna's discretion to give severance or not.
Here is the information from a legal (Department of Labor) perspective - https://www.dol.gov/general/topic/wages/severancepay. That being said, I have never known any company the size of Cigna to layoff quantities of people without giving some kind of severance. It is usually based on length of service.
I wish someone would actually answer this. I don’t know whether it’s a rumor, but it’s making the threat of layoffs ten times scarier.
@ek Wishful thinking -- they are ...
@e6 😂😂😂😂
@OP No one is sure whether layoffs are there are not, how we will know about severance
No one at Cigna would do this. We ascribe to the highest ethical standards in all circumstances.
This could totally be just a rumor, not sure, but I heard they first demand you return to work in the office at least one day a week. Then, on one of those days, two very large men in suits pick you up by your arms and legs and throw you out on the sidewalk. No meeting or anything! And without severance.
Not nice! In fact, sounds downright brutal!
But, once again, it is always possible that this could just be a mere rumor, not really sure.
Sounds like a rumor started so people just leave on their own.
@bp Are you sure?? I heard no severance --- crazy if that's true.
Yes. There has been no change to the severance benefits.