i remember the severance pay was half of someone’s salary. Is that still the case? I’m trying to mentally prepare myself if this massive layoff goes down this year
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Re: @Q5oubwS-1vyi Unemployment Insurance @ surplus
Yes. You will qualify for UI.
Read up on the rules & procedures for your state.
Wait to claim until you bank the severance pay and vacation pay.
If the layoff in in Q1, I'd wait to file until after the bonus payout.
Bonus payments from a prior year ought not impact your insurance payments.
Pension payments & other taxable distributions from reg-401k or reg-IRA ought to be deferred until you use up the UI benefit. These will impact your UI payments if taken during while you are claiming.
Rollovers and non-taxed distributions from ROTH IRA and ROTH 401k have no impact.
Good Luck+
Are you eligible for unemployment ? If a manager is surplused and received severance pay
I was laid off December 26, 2016 as level 1 Manager with 37 years and I got 6mos severance, plus my unused vacation, and they gave us our bonus in March of 2017. I looked for a job right up to the very last day, but was forced to retire. I pray for you all in that pressure cooker, but I assure you, there is life after AT&T. Also, because I was laid off at age 55, you can touch your 401k to get you through and just pay your normal taxes on it. No penalty.
when you receive your paper , you will find out
It is a percent of your base pay based on your length of service. It would is clearly in HRONESTOP as I had to help ASMs with it last year during their layoffs. It's not a secret, and it isn't hard to find. If memory serves, it's like 12 years + is the max of 50% of base.
I wouldn't give them anything.
Ok well, that employee is awfully bad at looking for stuff. Our severance as managers is basically tiered based on overall tenure with the company. I’m just over ten and I believe I’m at 21k - whether it’s voluntary or I’m surplused. It’s in hronestop, you just search severance.
I have read through new hire documentation for management employees levels 1-2, 3-4 (the benefits are almost identical except for the amount of PTO you're given in a year). It mentions nothing at all about severance pay. If there is a severance package, it is most likely an incentive for voluntary separation and not a true layoff.
Read this as many times as it takes for it to sink in: Unlike union employees, management employees don't have a contract of any kind. Anything can change, without notice, at any time. And no, you have no recourse or appeal.