I am mentally preparing to hear the news of my store closing. At the moment, it is very likely that this will happen.
That is why I am increasingly interested in the details of severance pay. Hopefully, there have been no changes in severance policy? I can only hope that the severance pay will serve me until I find a new job.
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Yeah, if you're only hanging on because you've been around a long time and expect a nice payout, just understand that it doesn't always work out. The severance situation could change at any time. OR... it could change only for YOU. I have a friend who lived through that particular nightmare, watching everyone around him get a package, and ultimately not getting one himself. It was all because of one mundane, manual task which only HE knew how to do, which kept his position from being transitioned or eliminated when all of the others were. He hung onto things for just a little bit too long, and when he was finally let go, there was no package for him. Just a thought.
“If you expect disappointment, then you really never disappointed” Spider-Man No Way Home. Don’t expect too much from Belk taking care of us. Belk is in business of taking not giving!
I’ve said this a million times on this site and I’m stating this as a fact from experience. A company is not required to provide severance pay. It’s a nice thing if they do if it’s substantial. You may be very disappointed to learn that if you do receive a severance package it may be very small or completely nonexistent. Do not wait around for this hoping it will tie you over till you get back on your feet. Look at the overall financial health of said company and you will find your answer to the severance question.