Thread regarding FactSet Research Systems Inc. layoffs

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For anyone comparing separation packages across regions, the statutory minimums can vary quite a bit. Company packages can be more generous.

Quick comparison - assuming 10 years of service:

  • US: No general federal severance requirement; 2 weeks/year as a company/market practice would be 20 weeks (~4.6 months).
  • UK: Statutory redundancy pay = 10 weeks’ pay (~2.3 months), subject to statutory weekly-pay caps for high earners.
  • France: Minimum statutory severance = approx. 2.5 months’ salary (frequently enhanced by applicable collective bargaining agreements).
  • Australia: 10 years of continuous service under NES = 12 weeks (~2.8 months).
  • India: Statutory retrenchment compensation (15 days’ average pay/year) = 5 months’ pay for covered workers, plus applicable notice/pay.
  • Philippines: 1 month’s pay or 1 month/year of service for redundancy, whichever is higher = 10 months’ pay, plus statutory final pay items like pro-rated 13th-month pay and unused leave conversion.

References:

  • US: https://www.dol.gov/general/topic/benefits-other/severancepay | https://www.dol.gov/general/topic/termination/plantclosings
  • UK: https://www.gov.uk/redundancy-your-rights/redundancy-pay
  • France: https://www.service-public.fr/particuliers/vosdroits/F987
  • Australia: https://www.fairwork.gov.au/ending-employment/redundancy/redundancy-pay
  • India: https://labour.gov.in/sites/default/files/364_2019_ls_eng_0.pdf
  • Philippines: https://dole.gov.ph/book-6-post-employment/

Practical tips:

  • Before signing, compare the offer against your local statutory entitlement and employment contract.
  • Don’t feel pressured to accept the first offer.
  • You can ask whether severance, notice, benefits, leave payout, or other terms are negotiable.
  • Consider getting local legal advice if the amount is significant.
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Post ID: @14k+1m39w1ky5

Do they offer 1-3 weeks per year or is it only 2 weeks of pay after last day of work.

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Post ID: @wq+1m39w1ky5

Depending on your particular situation/location it’s definitely worth it to have an employment lawyer review the severance offer.

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Post ID: @rr+1m39w1ky5

@f9 Only healthcare seems negotiable, at least in the Americas.

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Post ID: @kw+1m39w1ky5

can you actually 'fight for' severance? do they really negotiate on that? what leverage do you have though?

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Post ID: @f9+1m39w1ky5

severance figures from EMEA?

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Post ID: @f5+1m39w1ky5

@ev how much were you making before that you got 200k holy

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Post ID: @f3+1m39w1ky5

got almost 200k$. You should fight for it otherwise you're fu---d without limits.

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Post ID: @ev+1m39w1ky5

Any cap to the 2 wks/yr?

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Post ID: @af+1m39w1ky5

Anyone can share from EMEA?

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Post ID: @a9+1m39w1ky5

2 wks per yr

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Post ID: @a8+1m39w1ky5

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