When I was laid off, leader scheduled a call at 8am (was 7:30am when I received the meeting request - was working from home).
Joined the call (it was just the two of us).
It was scripted and leader read from a script and told me it wasn’t an easy call (meaning he didn’t want to just chat).
He read a script and let me know position had been eliminated. That day would be my last day, I’d start a 60 day notification period in which I was still on the books and could apply for other open positions. At 4pm, my system access would be terminated. I was sent an email with specifics of the package and it was also overnighted to me. Within a couple days, I’d receive a prepaid box to return laptop, cell phone, company credit card, anything else etc.
I also received separate instructions to log into Workday for purposes of applying for positions, access to view pay records etc (many documents).
Essentially, for 60 days it pretty much was pay as usual without working and the documentation told me what my severance payment would be, cobra payment would be and when I should expect my final payment which included the severance, cobra payment, accrued vacation time and unused floating holiday (providing I electronically signed the severance agreement).
Within the package, the following is included:
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Severance Agreement and timeframe to sign for eligibility (45 days). Instructions how to sign electronically or by mail.
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Separation Info Package with info on benefits, programs/policies, including COBRA, pay & accrued time off, financial programs including 401k, equity awards, ESPP, Schwab Employee Services, system access, unemployment claims, and contacts for employee benefits & programs.
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WARN notification
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Confidentiality, Non Solicitation and Intellectual Property Agreement
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Outplacement Assistance
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System Access for external Workday
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MyHr Contact Center phone number as point of contact for questions about the plan & severance during notification period.
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Property return process
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Separation resource site including documents within the package for 150 days from your notification
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Severance Pay Calculations.
It’s allot of information to sort through so give yourself time, hit the key dates for signing the agreement, participating in COBRA or shopping for your own insurance, returning Schwab property, etc.