Anyone else having issues with severance? I was laid off in December and today was considered last day, got my last paycheck but surprised to see that the severance total wasn't included.
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Okay, imagine you have a big box of toys, and you really like playing with them every day. But one day, someone says you have to share your toys with someone else, and you won't be able to play with them as much anymore. When that happens at grown-up jobs, it's like a "severance package."
A severance package is like giving you some extra treats and special things to make you feel better because you have to stop playing with your toys. It could be a bag of candies (that's like getting some extra money), or maybe a promise that you can still have some toys to play with for a little while (that's like keeping some work benefits, like health insurance).
So, it's like a way for grown-ups to be nice when someone has to stop working with them. They give them special things to help them until they find a new place to play (a new job).
No soup for you!
They don't pay severance on the last day, but you should've gotten final check, PTO payout and ESPP reimbursement. They messed up my contributions though, so real annoyed about that.
update: @gmu+1qSVL1QA is correct. Thank you for sharing your experience. I was told it will come in the next pay period.
12 weeks pay? How long were you at nike? Is that total severance sans pto stock etc?
Including stock?
I was laid off in November. Last pay included wages and any unused PTO. Severance is paid out around 25-30 days after you sign the exit letter.
I'm sorry you lost your job. I would read your severance agreement that you hopefully got in writing. Maybe this was the last "normal" check and the severance pay is next. If you find out anything, post back here to help others if you don't mind.
just 12 weeks pay
What was included in the severance package and how long was it for?