What does the severance package look like for US based employees? Was it different this time from last time?
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Has anyone tried to hire a lawyer to negotiate this? For people that have been there 20 years or so, they still only get up to 26 weeks of severance pay.
Can someone explain the logic of 2 weeks a year for anyone earning under 200K and 3 weeks a year for anyone earning over 200K?
If John makes 40K a year and worked 30 years for Nielsen, he would only be getting 24 weeks of severance (maximum severance being 6 months) at $769.23 per week meaning he would only be receiving $18,461 in total severance.
If Sally makes $300,000 a year at Nielsen and worked there for 2 year, she would be getting 6 weeks of severance at $5,769.23 a week and be receiving a total of $34,615.38 because each year she worked will be 3 weeks of pay because she made more than 200K a year.
How does Sally's 2 years at Nielsen matter more than John's 30 years at Nielsen? Make it make sense. Why isn't Nielsen valuing loyalty to the company? Did John not grind for those 30 years at low pay so why does Sally get more than him for just 2 years of work in this situation for severance?
Is my math wrong or am I misunderstanding the severance structure?
you cannot get unemployment insurance in NY if you are still receiving severance.
In California, you can file for unemployment while collecting severance after the 2 week wait. Not sure about other states.
Yeah, short tenured people…not so much severance.
Do you get unemployment too
Do you get unemployment too ?
They kept it at six months. At least for employees that made under 200,000 per year.
Thanks! Is there a cap? If you've worked there for 20 years, do you get 40 weeks of severance pay?
2 weeks of “non work pay” and then severance kicks in - 2 weeks per year of employment at the company if you made under 200k, 3 weeks per year if over 200k. full benefits stay active during that time.