Thread regarding Fiserv Inc. layoffs

Severance not paid out?

Has anyone been denied or know of anyone who didn't geth their severance paid out because they deemed you did not meet their performance standards (which in the agreement is extremely vague language and not specific at all) . Our team who is working 50-60 hrs a week cause people are jumping ship is busting our a** but if some shady business happens we won't stay til the end!

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| 1881 views | | 4 replies (last July 23, 2022) | Reply
Post ID: @OP+1hPMTyC1

4 replies (most recent on top)

Severance is not paid if you leave on your own prior to your separation date.

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Post ID: @2kbj+1hPMTyC1

Yep while I was unhappy I will say they paid per the agreement without any drama. So there was some honor there

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Post ID: @aem+1hPMTyC1

Given the legal sensitivities, you have to think it would be rare. However, if an associate slated for separation finds themselves on a formal performance plan etc, then there could be a concern. Any company, even this one, would be very ill advised to try and pull a fast one at the end of a severance period. Logically there would have to be formal documentation etc, that would telegraph a specific performance issue that could be construed to impact the payouts.

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Post ID: @bvb+1hPMTyC1

Everyone I know has received a severance package. If they’re not paying due to a standard I would make them detail what the standard is and push back as needed.

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Post ID: @xcy+1hPMTyC1

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