Thread regarding Medtronic Inc. layoffs

Severance Payment

Where can I find our Severance Policy - I am not asking you guys to post it here, I just need help finding it

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| 2051 views | | 4 replies (last April 18, 2023) | Reply
Post ID: @OP+1mcXlnbq

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Searching for “severance” in the hr benefits portal will pull it up.

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Post ID: @hvt+1mcXlnbq

I don’t believe there’s a hard and fast policy; it’s discretionary.

Historically it’s been the 60 days they use to get around WARN notice requirements, plus an additional 2 weeks per year of service. You’ll also be paid out for your unused 2023 PTO, be eligible for whatever pittance of a MIP there is this year, and have any Q2 contributions you made to ESPP returned to you through Fidelity.

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Post ID: @urq+1mcXlnbq

I'm sorry, I just thumbed through the company policy site and I couldn't find it for the life of me. My understanding is 60 days plus two weeks per year of service, plus pto, plus mip. Directors get about 6 months and vps a year I think.

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Post ID: @jui+1mcXlnbq

From what I understand it’s 60 days of pay plus 2 weeks for every year worked. There’s a max too

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Post ID: @hbz+1mcXlnbq

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