Maybe getting laid off now would be better since I have a feeling severance will continue shrinking each layoff. I could be paranoid, but it's happened before and chances are it'll happen again. It feels like the longer we hang on, the worse the terms might get.
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I've been here 14 years so a paycheck per year would be gladly welcomed. I've been checking my email constantly all day/night hoping for a 'Business Update' meeting invite. Hoping to get one in the morning.
Severence was a paycheck per year of service, as lump sum. The other way to think about it is you get two weeks pay for every year of service. Assuming salaried employee.
For example, if you work three years, you get 3 paychecks as a lump sum
It will get worse. Medtronic has to pay GM his bonus some how.
What used the severance be ? And what is it now? (In terms of weeks per years service)