Is it decent enough to allow for proper time to find new employment without stressing?
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sorry, I meant 5 years = 8 weeks severance
Year 1 = 4weeks
Years 2 to 5 = 4weeks
You get one month free COBRA health coverage after your termination date and can continue paying for COBRA on you own for a year.
(Good news) California employees get a WARN period of 8 weeks paid with benefits. Last Day = Oct 3rd
(Bad news) Those 8 weeks are deducted from severance pay
E.g. 6 years at Oracle means 8 weeks severance:
Year 1 = 4 weeks
Years 2 to 6 = 4 weeks
HOWEVER
8 weeks severance minus 8 weeks WARN = 0 weeks severance
On the plus side, its better to have 8 weeks WARN with benefits vs. 8 weeks severance without benefits
Team member outside CA has Aug 15 as last day... I guess the WARN did not apply.
Dreamer.
Also, how is healthcare coverage handled?