I told my manager to put me on the list and here I am laid off. It’s time for a new start and I couldn’t be happier. They did sc--w us a bit on health coverage, it’s done in 3 days.
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Sorry, I didn’t realize there had been any replies to my post. Yes my health benefits end tomorrow. Fortunately for me we’re able to just switch to my husband’s insurance.
Trust me, I’m in a very lucky situation and I’ve been preparing for all of this since March. Banked all my vacation time(until they changed me to salary and it stopped accruing) and did all the health/dental/vision stuff I needed before now. So between maxing out at the 26 week cap and the vacation time I accrued I have over 7 months coming to me, which for the US and Oracle isn’t bad.
And I have no intention of looking for work in the tech field or matching my previous salary so I’m pretty low key about the next phase.
What do you mean it's done in 3 days? You mean you go on cobra after 3 days? Can you describe what the package looks like?
Don't forget about the IRS rule of 55. If you just got laid off and are 55 or older, or even going to be 55 this year, you can make withdrawals from your 401k without the 10% penalty(still got to pay fed and state taxes though).
So, no garden leave this time?
it’s done in 3 days.
Yep that's oracle. They're very sh---y on that. Most employers give you to the end of the month or the next month (if it's the end already).
Trust me you will have much better opportunities outside with better benefits and will regret why you wasted so much time in Oracle.