I heard the severance pay got reduced to a maximum of 10 weeks in stores that are closing if your offered it . Anyone else heard anything on this ?
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They are completely screwing over people that have worked for the company many years. Wave 4 stores will receive zero severance pay . That’s Managers and their entire teams will walk away with nothing. Pathetic. Looks like some more people might or say I should take up skydiving!
I just got let go from my position as a warehouse manager in N.J. (almost fifteen years) last week and I got a severance package for 12 weeks at my current salary plus 12 of health insurance and after that I can pay for COBRA. Trying to see if any other managers from NJ stores or warehouses got severance packages to compare.
My store is closing in 10 days. The managers have all claimed that they don’t know what the bonus is, but starting today they will inform us one by one. Meanwhile, they’ve gotten us all to hang in there with the carrot on a stick and it might be some pittance amount. Anybody know if we’ll be paid for unused sick days?
Its true 10 week max
To the last post, I wish I knew. We closed last year. I got more retention bonus than the guy who’d been there 10 years more, yet he made more per hour than me. I don’t know what formula they use
How do they decide who gets what? What’s the criterion? Im in a store that’s closing and the managers all claim that they don’t know any details at all.
Severance is only beneficial if you get another job very quick. In Texas any severance pay delays unemployment beginning/payments. Can not receive both at same time.
What’s the criteria on retention bonuses
It's not severance pay, it's a retention bonus. Very important distinction, there are laws and rules that govern severance, whereas there aren't any for retention bonuses. And it is indeed capped at 10 weeks. If you qualify, because one missed shift and you're screwed.
Haven’t heard anything and I’m in a store that’s closing