Thread regarding CVS layoffs

I gave CVS my resignation after being laid off without having another job lined up (out of principle for a personal belief) and told them I was forfeiting my severance from them. I now hear that I may actually still be able to collect severance even though I gave my notice. Did I give up my rights to this by saying that I forfeited it or should I still be eligible if I go back to them and request it? Is it at their discretion or do I have a legal right to it?

If you get another job outside CVS and have been told your job is eliminated, you don’t need to resign and you are eligible for severance to sign away your claims against the company. They do background checks (other companies) but don’t talk to anyone at CVS. They just check dates of employment and titles. If you haven’t been separated yet, you will still show as active when they do the background check. The only issue is if you are still working up to your separation date (many have stopped working through their notification period up to the separation date). If you can get a new job and also get severance from CVS (some may need medical coverage even with a new job), that would be ideal.

Will my severance be rescinded if I start a new job outside CVS before the separation date and formally resign from CVS?

A call to cvs to confirm employment is not a guarantee you got the job. Plenty of people here work 2 jobs

Employers do background checks and will mostly likely contact CVS for verification.

From what I read is that it would be rescinded if you declined a offer from the job placement company

You can turn down non-comparable job offers at CVS and still get severance for your job elimination. If you don’t apply to anything, you still get severance. If you accept an offer at CVS for a different role, you won’t get severance benefits because employment continues. If you are not in a new role by your separation date 10/21, you will get severance. I don’t think hiring managers are going to go to the workforce reduction team to tell them which candidates turned down offers to ensure they don’t get severance. They are just focused on filling their job requisitions and don’t think they want to further destroy colleagues’ lives by cutting them and their families’ off of severance benefits. The company just wants the signed release of claims against CVS from you. You can choose to apply to new jobs after collecting severance benefits if you so choose. You will then be rehired. If you are still collecting severance when rehired, severance benefits stop.

Op here again. Ok thanks for the responses you all have been super helpful. I know how stressful/trying this layoff experience has been first hand and I wish everyone the best. And at the end of the day f*ck cvs let’s level up!!!!

To answer your specific question, if you apply for a position within CVS Health and receive an offer and turn it down, then yes, you forfeit severance. The company views that as offering you continued employment in lieu of getting laid off and will not continue to pay out severance if you decline. Best bet is to thoroughly vet out any positions you may apply to prior to interviewing (especially pay) to be sure you’d be willing to accept should an offer come your way.

If your role was eliminated, you are eligible for severance benefits. If you accept another position within the enterprise (any business owned by CVS Health), your severance benefits would be forfeited/ended. You would not be able to collect severance benefits while being an active colleague. If you get a job outside the enterprise, I’m not sure how CVS would be informed unless you tell them.

Severance is a will not sue contract. This nominal sum is paid to you to sign away your rights. It is fully taxable. It is basically a number lower than the cost of engaging outside counsel to review documents and file an answer and take a deposition. Figure it out. $400 an hour times 50 hours is $20,000. That is a ballpark figure. An affirmative defense is that you turned down work. You definitely lose unemployment if you turn down work. At will employment, rolling layoffs, firms on retainer to fight employees - your odds are very low. The exceptions are protected classes. There is a document from a statistician filed somewhere that the cutbacks are not related to age with a statistical analysis.

Not a lawyer, but evidently severance would only be rescinded if you are rehired by a CVS entity as defined in the “Employer” under the definition section

Op here. This is not a hypothetical situation. I actively applied to the subsidiary but also applied literally everywhere since being laid off. Luckily now I’m choosing between a few companies with the subsidiary being one of them. However, I’d like to keep any severance if possible so this factors into my decision.

Thanks for linking the doc but I must admit I’m more confused. How would Cvs know I’m employed elsewhere and terminate potential severance?

Out of curiosity, are you asking a hypothetical question? I doubt a subsidiary is randomly sending job offers. Did you actively apply? Either way, if you look at the link below (2.4 in particular which deals with CVS entities) it may give some insight

https://www.sec.gov/Archives/edgar/data/64803/000006480322000008/exhibit1025-2021.htm