Severance is not required by law, so I'm wondering if there's a chance that the leadership (and I use that term very loosely) can decide to reduce the costs of layoffs by further reducing severance for those affected? That is something I wouldn't be surprised to see this bunch pull.
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It’s based on local and national laws and regulations. Companies in this situation often reduce severance packages when and where they can.
I'm based in the UK, but when I first started 3M 12 years ago, employees recieved 4 weeks per year of service. Then it dropped to 3 weeks per year, and now I'm told it is 2 weeks per year. Not sure what the policies in other countries are, but yes - absolutely they will reduce the severance pay, if they can get away with it.