Anyone know for sure about the rumors mgmt is discontinuing severance all together???
12 replies (most recent on top)
Yes they’re getting rid of severance
@yh
What a stu.pid post. Severance is not a privilege. Not at all. Severance is considered a benefit that provides financial support and other assistance to employees who are laid off or terminated. It can include pay, health insurance continuation, and help with job placement. The problem here is this place is finding ways to skirt around paying it and not be obligated. 98% of all people here more than 5 years are not habitual sc--w ups or problem employees.
Severance is a privilege, no one is guaranteed and it's over, they do not want to pay anymore. PIP
@jm - please do not lie. If you worked for many years you weee entitled to 9 months. There is never a 2 month severance. Please do not instigate people to fight the system. It almost always is a waste of money and time. I got three months after three years. My friend with 14 years got 6 months. You must have worked for a P to get 9 months . Not because you fought a fictitious battle.
The End has come. Jan 2026, no more severance, its official.
If they do away with severance as designed today (2 weeks per year of service), they will still call it severance but adjust the payout to the minimum they believe is acceptable to prevent laid off ex-employees going “postal”. The market says this is about 1 month of pay/benefits after the separation date.
Just as they adjusted the 401(k) match to benefit them and stopped paying out for unused vacation (unless required by state law). These are all ways to reduce expenses and increase shareholder value and as Robin gave everyone a handful of shares you all benefit, right? So no complaining your loss of a job with basically no off ramp of a meaningful payout is just how things are these days. Those executives bonuses are not cheap after all….
@jm May I ask how you fought exactly? What did you do?
Unfortunately they are. I was terminated in February and I don’t want to say how many years I was there but it was a lot! I should have gotten a full year of severance and they gave me 2 months. I contacted lawyers for advice and a trusted friend who used to work there years ago and I fought like he-l and ended up with 9 months at least. All I can say is fight as hard as you can! And I wish you and anyone else in this situation the best of luck! Such a toxic environment! They don’t care about anyone but themselves sadly!
This has been a topic discussion for awhile now. This is why they try to fire people instead of letting them go. Make sure you get your swipes in.
Yes but everyone that gets laid off will get sent a 6 month supply of free coffee.
hard to say if they are trying to get rid of it, but they are certainly finding ways around it.
Try this
https://www.google.com/search?q=SEVERANCE+bank+of+new+york+site:thelayoff.com&ie=UTF-8&oe=UTF-8&hl=en-us&client=