For those who have been let go before has anybody gotten a larger severance then the standard 2 weeks from TR?
6 replies (most recent on top)
I was let go under the company name of TR end of 2016 , but I was under Reuters contract. So I got 6 weeks per year + 6 months paid notice period + £2K towards training.
Bonus pro rata also.
From this I retired early at 55 :-)
My manager asked me to stifle my happiness when HR had the meeting to tell me I was ‘at risk’ lol
I did very well with a poker player look on my face.
It’s still 2 weeks for every year of service and that hasn’t changed. I recall that when the big sl------r happened in 2018 everyone was capped at 52 weeks and still is. Btw, one of them was my director and he was the best and I hope he’s doing well. I know his new job is better than what he was doing here!
To answer your question more directly, the full-year severance that I received was calculated as two weeks for every year worked, capped at 52 weeks. I'm not aware of anyone who received more than 52 weeks.
Sorry, in the posting above about the 12/31/2018 package, I forgot to add that my position was Director.
My job was eliminated at the end of 2018, my last day was 12/31. I received one full year severance (I'd been with the company almost 30 years), full bonus (because I finished out the year--otherwise it would have been prorated), unused vacation time, and outplacement services (I chose not to use them). I don't know what the company is doing now but I thought and still think that I received a very generous package.
It depends what TR feels like doing. When I was made redundant, I received 6 mos, as all Directors did plus my pro rated bonus and outplacement. Sometimes, there are complex formulas involved. I wouldn't expect much from them now.