The last time involuntary separations happened after the VSP was offered (2019) did those folks walked out lose their pension? Partial Health Care payment for employees hired before 92? I mean is it like being fired in regard to your benefits? Did they just get 6 months salary and lost everything else?
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I honestly do not think it will be as bad as in 2019. Maybe only a few departments will be organized differently or eliminated.
It's not splitting hairs. Fired indicates let go for performance / rule breaking / illegal activity etc. Laid off presumes role was eliminated. Layoff typically comes with severance pay and many other possible gimmes (automatic vesting, outplacement service, etc.) And allows for unemployment benefits.
Fired is buh bye.
If you had 12+ years in 2019 you received 6 months pay and benefits. And for those that worked in certain locations received WARN violation payments which was about 6 weeks pay, payment for benefits including bonus and vacation. So a nice surprise. Especially for those close to retirement. Many people in GM are just waiting for the golden handshake offer. A hack is that if you are leaving a company and have an FSA it’s fully funded on Jan 1 and you can access up to what expenses you incur up to your yearly selection and not just what you put in prior to leaving.
this time it's voluntary separation. In 2019 it was involuntary.
You still have to do a job hunt you weren't expecting to do.
"Fired" and "laid off" are basically the same thing, but you often (but not always) get some kind of a package if you're "laid off."
Either way, leaving wasn't your choice, and which term is used is just splitting hairs.
In 2019 we were given healthcare for an extended period of time. I think it was the same as the payout months or maybe a flat 6 month. Then you can switch to cobra but that's more expensive. It wasn't just like being fired. GM is usually kinda generous in layoffs so noone tries to sue them
To be fired implies you were let go for cause.
Involuntary Separation implies you're being laid off at no fault of your own.
What is your question? Did they lose their pension? You mean 401k match? Yes they lost the vested portion if they were not vested (min 3 years). HSA is your money no matter if you leave. It's a tax deferral benefit, you don't lose it. For any corporation with involuntary separations, they are required by law to provide COBRA coverage. For how long - it depends. But for the involuntary separated folks on Feb 28th, they were given 3 months COBRA coverage from 3/1 to 5/31. There are federal laws when there are layoffs that guide the minimum. GM and most other major companies don't want more negative publicity, so extend beyond the minimum laws.