- Unlike April, at this point no one should be surprised when another round of cuts occurs. Be Prepared.
- If the last round was any indication, notices were issued between April 27th to 29th, with the last day of work on April 30, 2022. Notably, this was the final workdays of the first month following the quarter. If a similar process is followed, cuts should be expected the last week of July. Then again, if they want to surprise you, they may change up the timing.
- The SIRP Q&A helpline responses were often incomplete or inaccurate. People were told they would have no health/dental insurance if they didn't sign a waiver by April 30, with no mention of COBRA. Others with vested pensions, but not yet retirement eligible were told they would get no money at all (Wrong! Check out ERISA!). For the most part, they were dealing with stunned people who, at least temporarily, believed this stuff.
- For those who signed the waiver, even if signed promptly on the day it was received (and your signature was supposedly proof you'd reviewed it with a lawyer—good luck getting a lawyer on such short notice!), there was a seven day revocation period, so your health/dental coverage was still canceled on May 1st and had to be reinstated later. Be prepared for administrative follow up with your health care providers.
- For those who were terminated and retirement eligible, it is apparently assumed that you retired, even if you haven't filed any type of pension or retirement related paperwork.
- Try to network with other terminated employees, even if you don't already know them—you can help each other out with information and moral support.
- Good luck to all.