Not fair if compared to folks on the ground. Oh, well... Another injustice
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The Bentonville HO layoffs are getting pay until January 31st. Some areas aren’t having their associates work, while other departments are forcing their associates to work through that time. It’s weird. If you’re mad people are getting a decent severance during this time, you should be ashamed.
Some misinformation out there so here are the real numbers: (At least for salaried HO employees)
You get pay/job search assistance until Jan 31st + bonus + equity vest. If find a lower pay band position your salary stays the same for at least 1 year. If you do not (or do not want to work for WMT) find a job within walmart after jan 31 you are paid severance as a lump sum. 2 weeks for every full year of service + 1 week for every $20k base salary you make you make.
I was with Walmart's Home Office for 10 years. When they started going through with a flame thrower getting rid of 100's of associates at a time and eliminating entire departments, the severance package was sweet.
Those let go initially were getting 2 weeks for every year and another 2 weeks for each $10k of salary so some were getting a year's salary or more.
Walmart figured out this was too costly. It turned into a 60 day we will pay you but you have to find another job within Walmart or be termed. This was the kiss of death. How can you find a job within when there are no jobs and all WM was doing was eliminating positions? It became a 60-day vacation for most.
After that, roughly 5 years later, the 'severance' package became 1 extra pay period of pay and a don't let the door hit you in the @$$ when you're escorted out.
Your severance is directly tied to how long you have been working for the company. I think 1 year of service can equal 1 month of pay. Don't quote me on that.
It's also due to career status, education, responsibility umbrella... bla bla bla. If you want a better comp package work your way up. Not all jobs are equal.
It’s really due to the circumstances. If you look at what jobs are available right now they realize their high skilled people are really good to struggle to find a job. That and many of our IT colleagues are on a visa which means if they lose their job they will need To find another one to keep their status or risk having to leave the country. It’s really unfortunate but I’m glad Walmart is looking out for these people in a time where high skilled jobs are shrinking in some respects.
By on the ground do you mean in the stores? Don't think any of them are losing jobs right now with the recent hiring spree. They are all getting much better at Walmart/Sam's or they'd be working some place else.
Severance used to be tenure and salary based. 2 weeks for every year plus 1 week per 10k salary. :(
Yes. Other organizations are getting severance till Dec 31st as well.