Before you accept the severance, know that it is technically possible to negotiate the terms of a severance package. Please research this before signing and decide if it's worth it. Consider having a lawyer or career coach look over it. Keep in mind that your take-home from the severance is only about 60% and you are not eligible for Unemployment in some states during your severance term. If you currently have insurance benefits, they will expire at the end of the month that your final day falls in. Make those medical appointments now! If Whole Foods has not offered to pay for COBRA insurance, it is possible for them to do so if they agree to. It will also be tax-free to you if they pay the premiums to the insurance company directly. You can be entitled to COBRA coverage from anywhere between 18-36 months depending on your Medicare eligibility. Please take care of yourselves.
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READ this is you are over 40 years old: http://www.employmentlawfirms.com/resources/employment/compensation-benefits/if-i-accept-a-severance-package-can-i-still-file-fo
"I didn't get anything in return. A release is a contract, in which each side gives something of value to the other. (In legal terms, the exchanged things or promises are called "consideration.") Usually, an employee receives severance in exchange for promising not to sue. However, if you were already entitled to severance, the employer must give you something more for signing the release. For example, if your employee handbook says that employee's receive one week of severance for each year of service, you are already entitled to that amount. Your employer can't require you to sign a release to get it. Instead, the employer might offer you enhanced severance -- additional money -- for signing the release. "
Pulled from the NorCal 2015 GIG:
in accordance with a formula based on your credited years of service (based on actual service hours) and weekly base pay at the time of your separation from service.
Severance Pay = (Final Actual Service Hours ÷ 2,000) x Regular Weekly Base Pay x 2
In no event shall an eligible Team Member’s Severance Pay eligibility be less than two times their regular weekly base pay.
Has anyone negotiated the severance package? Anyone gotten WFM to pay for Cobra?
I misspoke. This was in the notes that I took while on the call. The question was asked and answered directly
How have you seen this severance package/ The only paperwork I got did not mention unemployment. (south region)
Severance package in the south says that Whole Foods will not contest unemployment. In our state, the severance would have to run out before unemployment would kick in.
Questions best left for an attorney to answer. Just take a few days to weigh your options before accepting less than you're worth.
And what if you refuse to accept the severance package? Will the company fight unemployment to the death?