I hope it is. Perhaps someone is willing to share the details?
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The severance on the ETrade side was not good enough. Given that the severance was based on base salary and not total compensation, while taking back of non-vested 401k match and company stock. The people let go, most were not strictly salaried employees. Regardless of job performance. MS stripped people of their worth, their businesses and livelihoods while lying to employees for a year, then lying to ETrade management about what they were doing. 200 people or more lost their jobs. An entire division of ETrade is now completely eliminated. They mostly kept people licensed under 10 years in the industry. 75% of the people laid off fell under a protected status. THis was well orchestrated and planned. MS treated ETrade employees like garbage. They literally told them they do not create any value in the firm. MS created an extremely stressful, toxic and hostile work environment for the last 6-12 months. MS EDs talked to ETrade employees like they were dogs.
no transparency in handbook
for severance.
Depends on the laws in your country I would think.
It's not necessarily by handbook.
I work at Citigroup. Our Handbook stated two weeks for every year maximum one year severance do you guys not have a Handbook over there?