No meetings on calendar - just a Teams message and quick call. Notice period ends 1/5 so still on payroll until then
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@pnh+1pl7xy2c The layoff severance letter details the monthly Cobra benefit based off what I pay currently in Medical, Dental, Vision ~ $2500 and then they calculate it out for the number of business days of severance based on how long. I maxed out at 220 or about 10 months so $25k. It should be detailed in your serverance letter with the lump sum amount.
I'm another 58 IC with the same end date, STS, how did you calculate 25k in COBRA?
OP here, yes the end date of 1/5 is helpful for taxes as the lump severance, plus $25k in Cobra, etc. would have been a mess for this year's taxes.
and they pay you for the holidays and maybe even some additional accrued vacation in the month of January - plus an additional month of health benefits
They probably will happen all week - no way they are organized enough to do it all today. Plus the ones doing the layoff today may be laid off later in the week
From a tax perspective that's at least helpful... better to get it at the start of a new tax year then end, which could push you into a higher bracket.
I think it may be just one whole pay period, easy for them to calculate pay
1/5 is more than 60 days . Does it mean lays off are gonna happen all week effectively marking everyone’s last day as 01/05.
1/5/2024?
Did they do the right thing as set your severance payment for 2024?