Is it down to individual discretion regarding how much severance pay you get? I’ve seen comments where some have received 1.5 weeks pay for every year they’ve been at 3M (up to 20 years) whilst others 3-4 weeks ….. Surely there’s a policy to follow to ensure fair play !!
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Not misinformation, but differing worker protections in different locations. Strong worker protections (whether through labor union contract or local legislation) in many EMEA countries will result in better layoff packages. The US has incredibly weak worker protections. The lower severance amounts referenced here are for the US. There is not one global severance formula.
Youre lucky you get anything at all. 3M is cutting dead weight and all you losers should move in their own accord!!
3vin+1lsZYosz
I’m the OP and if I’ve provided misinformation then we can better educate our management because that’s where I got my info from. Management can be misinformed too and that’s why language was used like assumed and not validated. It means supposedly.
Everything is misinformation until a policy link can be provided. Unless you are in HR and can provide a policy link you being at the company 10+ years and hearing what others were given is no more valid than what others are posting on the site.
It would be great if you were from HR and could provide real information and transparency because that’s what everyone is looking for.
So a maximum of 65 weeks !!! What a load of bull …. Who pays that amount
To the person who said it used to be 1 month of severance pay for each year a person worked - is completely false. I have worked at 3M for 10+ years and in my time it has always been:
1 week of pay for each year worked up to 10 years (10 weeks pay)
- 5 weeks for years 11+ (max 26 weeks total)
Minimum = 4 weeks severance
Please stop spreading false information.
The UK policy is currently 3 weeks pay for every year of service, not 1 month. Then min. 12 weeks pay, max. 60 weeks pay. Everyone I've known to get let go (from the UK) in the last 3 years has had this deal.
5 Years ago it was a much nicer offer...
So the two posts are accurate and I don’t see where there is misinformation for US severance from original poster.
Latest information I have for the US non-union is:
- 1 week of pay for every year of service up to 10
- 1.5 week of pay for every year 11+
Maximum 26 weeks severance pay.
I've seen different minimum severances from 2 to 4 weeks.
If the post is misinformation let us know what the real information is.
The response to the qs is misinformation Do not rely on it.
Every country outside of the US receives one month of severance per year of service and then there are small nuances / additional rules depending on if you’re a senior executive or there are country-specific legal requirements beyond that.
In the US, severance used to be one month per year of service but the policy changed in the last couple of years and it’s now one week of severance per year of service (up to 10 years I believe) and then 1.5 weeks/years of service after 10. Executives (I believe) receive several months of severance and other perks.
It’s been assumed, but not validated, that the US policy changed because the US has the largest headcount and therefore going weekly saves significant costs…
Most Fortune 200 companies pay 1 month/year of service in the US.