What have the severance packages been for the recent layoffs?
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@fd Yes, and sometimes a little more depending, could be 2 1/2 weeks depending on pay day.
If you get let go, do you typically receive one additional paycheck after your last day? I’ve heard different people say yes and no, even at the associate level
@bd You actually receive any remaining LTI in the bank along with your PTO and below VP gets about 2 weeks per year of tenure. You may get administrative leave as well so that time is paid out at your regular pay rate. If you’ve been there a while it’s better than a lot of companies these days, especially those forgoing packages altogether.
@ae I thought they are required to pay back the LTI from the last year?
@ae Yea, same as its pretty much always been. Basically if there 10 years then about 5 months pay, plus they pay for any vacation days you've accrued but haven't used. This is accrued for time at that point in the year and not for the entire year. So if you've used all your days right now and get let go, they take some out of severance pay amount. Also, if let go, they usually pay another paycheck or two after. Overall it is better than most places and good if you've been there for quite a while.
I’ve heard some varying details, but the most consistent has been two weeks per year of service and no LTI. Heard some rumors to an initial 30 day paid administrative leave, but haven’t been able to confirm that.
A bag of peanuts, 3 Coke Zeros, a nice thank-you note, and a blanket. That's only if you stayed the weekends though. You might still be able to get your flu shots too, pending your director's approval.