Regarding US employees, as we approach financial insolvency, at what point does management look at reducing severence payouts in order to further cut expenses?
Obviously, once in Chapter 11, all severance bets are off. But how bad do things have to get before payouts start to get cut?
since FED was established a century ago
I keep up with other layoff threads and have noticed that companies are finding new ways to reduce or eliminate severance. One way is to partner with another company, and then re-badge employees to work for the new company. The employment there may be limited to a year, and the severance if there even is one, will be much smaller.
It's already happening. 3/31 RIF severance was a pittance for all the years of hard work. They deduced from severance WARN period and of course taxes for Uncle Sam.
If you are not sending out your CVs right now and actively not seeking jobs thinking your 6 weeks severance package will save you once your become unemployed, your career and your future financial stability is now dead. job market is not getting any better, jump off and do the switch when you can.
Now