Is this calculation (how many weeks of pay per year of completed service) mentioned anywhere on 3M Go or policy?
17 replies (most recent on top)
Not forgetting current US administration it is much difficult to close a US plant rather than EMEA plant
True that US salaries are higher than EU salaries. Assuming that EU salaries are 70 % of that of US salaries, a 24 month, 104 weeks of severance pay is not going to be less than a 24 week severance pay in the US.
@j3 High cost compared to what? China?
I've seen US and EU plants P&L and I would say its more expensive to manufacture in the US than Europe. And at the same having better safety records and labor conditions.
@af my mistake, with my fat fingers.
@g4 no wonder. It is so difficult to close down a factory in EMEA region.
In recent visit by Paul G, he had expressed that EMEA plants are extremely high cost and need to cut down significantly.
@a7 in Italy they get 40 months per a general agreement with the unions. (Yes, months). Before you challenge it, go ask, it is public. In other Western European countries it may vary between 12 and more than 36, depending on country, seniority and others
The OUS salary quantum is lower than that compared to US. Therefore 24 months payout for OUS may be equivalent to much less in US terms.
OUS there are different rules. US is capped at 26 weeks
The high payout months are probably due to the local country laws.
When I was there it was 1.5 weeks for each year of service capped at 26 weeks. Basically six months of pay.
2 weeks per year, minimum 4 weeks max 26. I’m getting mine 12/31.
@a7 where was this location, because this is unheard of and unprecedented. The most any employee has ever receieved is max 26 weeks.
max of 96 weeks here. Many colleagues have received that amount.
@a8
Max of 26 weeks
In the US, it's 1 week per year of service, up to 12 years, and 1.5 weeks if you've been here longer.
Max of 36 weeks, I believe.
@OP I know of ICO employees left recently, with package of 4 weeks per year of service. Capped at 24 months. Quite a good deal and they were quite satisfied.