I've said it before and I'll say it again until hopefully everybody gets it: nobody is safe! If you're not looking for a new job right now you are making a huge mistake and gambling with your future. If you're staying for severance, again, you could be making a huge mistake. In case of bankruptcy, chances are nobody will get severance. Look for a new job while you still have one!
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@yzo. Not neccesarily. It depends on the company in California.
I would not use the stock price going up as an indicator of economic health of this company. There are many get rich quick day traders out there who want to get their money back from the last two weeks. I wouldn't take it as a vote of confidence in the place as they have been using BBBY as a beachball for the last year or so. One looks at the economics of a BBBY or a GameStop and confirms that it is not being purchased for the long term. These are short term buyers who don't care when you or anyone else will end up. They hope to get rich on your efforts. Very much like corporate.
Also, be advised, severance is NOT taxed higher AND the payments DO NOT end when you get a new job. CALIFORNIA LOVE! TTFN
I was collecting severance while I was working and my taxes didn’t change. Luckily I got 14 weeks of severance and I was out of work for only 7 weeks. Of course this was during the initial layoff.!things might have changed.
Don't expect a windfall with any severance. It's a drop in the bucket compared to the years of hard work and commitment.
Also, be advised severance is NOT a bag of money when you get canned, it’s just a continuation of your bi-weekly paycheck AT a HIGHER tax rate (because it’s co side red supplemental income), AND the payments END when you begin a new job!