If anyone impacted is being offered severance please discuss here if you could, I’m sure there are many people that could benefit from knowing what is on the table.
7 replies (most recent on top)
Ok. 2 weeks per year...but what abt benefits and PTO? Anything else we should consider if/when being fired? What abt asking for IRR [individual removal request] to have personal info removed from TRP and 3rd party systems...isnt there a regulatory obligation for this?
@b8 adjust your withholding!!
@d8 6 months max was standard in the past.
@b7 two weeks per year has been done in the past, have not heard of the 6 months maximum before.
@OP Just as an FYI, if they say you get 3 mos pay as severance, standard practice is to pay this as a lump sum, not over the course of three months. This has negative tax implications for the receiver as it gets taxed at a very high rate as a bonus. So you will get substantially less than if they paid you every 2 weeks for 3 months. A LOT LESS.
Another user here said two weeks per year of service, with a minimum of 3 months and a maximum of 6 months. I don’t know if this is accurate, but hopefully others can share their experiences.
Curious as well since they definitely have plans to layoff more still and job market is horrible. These are conditions people end up homeless in and it is terrifying.