I know a lot of people are staying just so they could get severance, which could backfire spectacularly since severance is never a guarantee. You must have read about the Better.com disasters layoffs Zoom call, but now it has come out that the same guy wanted to only give one-week severance to those laid off. It changed by the time layoffs were done to 60 days, but that's just because there was a WARN issue involved. So please, if you're not preparing for being jobless because you believe you'll have a safety net in the form of severance, rethink that position. It might happen, but you might also be left with nothing while completely unprepared.
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I was told there are no more severances until you are a bonus eligible manager.
The only reason severance was offered was to make Allstate look better the one time. If you actually are waiting around for/think severance will be offered again, time to wake up. Make bank on severance? What a stupid comment- many of those laid off were between 52-70, try finding a job quickly in the current environment in that age bracket
Severance is not paid out of generosity, it comes attached to an NDA that indicates the severance is being paid for your silence. Does any really believe corporations just give away money when they slash jobs without an agenda?!?
Sure they can lay off without it, and watch that section of its workforce with marketable knowledge flock to work for plaintiffs firms and public adjusters, not to mention the information Allstate's competitors would love to be privy too. A person is not sharing proprietary information, they are just helping "benchmark" and endorsing "best practices", like Allstate does itself and asks of its workforce.
I think the severance package last year was very generous because of the pandemic. I doubt Allstate would ever offer 2 weeks per year worked. Some people who had been at allstate 20 years got a nice $40000- $100000 payday during the layoffs. The best part is they could double dip and go somewhere else and get paid from that too. Not 100% ideal but some people in 2021 made bank
I was offered severance option. Not really knowing the job market, I declined and figured I would look for another job elsewhere, with the security of maintaining my role at allstate. I found another job elsewhere much faster than I thought I would. So I left after almost 30 years. I have no regrets with the decision, but incredibly happy I am out of the dumpster fire. It took a few months to get used to not being abused and afraid everyday, but now I have much better work life balance, an amazing leader, and with a company that walks the walk and values it's employees much like allstate in the past. My advice to anyone is just leave and pick-up somewhere else, It's not starting over somewhere else when employers appreciate what you are bringing to them. Happy holidays fellow allstaters. Both present and past!
Facts.
The one time I've been laid off in my career, we got 3 days severance in order to pay us through the start of the following month, so we could get a bonus month of health insurance.
Don't count on those severance checks.
This is true. Severance has not always been offered. There were layoffs in 2012, 2014, and 2018 in areas impacting hundreds of employees in CCC and operations where no severance at all was offered.