Can anyone share what their severance package is looking like? Are bonuses included (wishful thinking…)
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Is everyone receiving prorated bonus or just VP and above? I'm a senior director and I don't see anything in my agreement referencing bonus. Is this something I need to negotiate / fight for?
2 weeks per year is good compared to other companies. I spent 15 years at Nielsen in a client facing sales position (aka the money maker) and only got ONE lousy week per year. So 4 mo's in total. Oh and they jipped me out of my Q1 sales commission which was about 20K.
These companies are blood su-kers. Never be a loyal employee. You are only loyal to yourself and your family.
Anyone know how much/what we can negotiate? I want a longer runway for having healthcare.
Does anyone know if you can opt for a lump sum on cash instead of Cobra support?
Were any PBEs affected yesterday? If so, was any severance offered?
The federal warn act requires 60 days notice or you are paid that amount ... NY law is 90 days CA is 60
There cannot be only two weeks severance pay.. am I missing something ? Please correct me if I am
If you aren’t offered sixty days pay, it’s time to lawyer up. People were only offered two weeks that were here for more than a year.
Severance is less than sixty days pay. This goes against the worker adjustment and retraining act. What they’re doing is not legal.
I’ve confirmed severance package IS 2 years of employment.
This is absolutely despicable. What an awful HR & legal team, and they should all be ashamed of themselves.
Is anyone in LA going to try to negotiate severance? I was part of layoffs in LA. No idea what to do but 2 weeks per year is not enough. And nothing for anything short of a full year. Does Anyone know how the WARN notices work in CA? Has anyone seen a lawyer about any of this before?
Re WARN, I don’t think the company worries about compliance as long as they pay you 60 days severance. In other words, they might be violating the act, but there’s no damages.
So my question echoes a previous one: Do they give 2 weeks per year severance on top of the WARN act 60 + prorated bonus?
Looks to be about 2 weeks for every year.
Replying to another post - I know we are Cobra eligible but Cobra is exorbitant with dependents - was just wondering how long the company was making the premium payments past the month laid off...
@lxv+1tZK1OyV should be covered under COBRA https://www.dol.gov/general/topic/health-plans/cobra
@yyp+1tZK1OyV - nothing specific yet.
Has anyone heard when insurance benefits will cease specific to this round not last rounds ?
Not sure about producers with contracts, but re CBS News- my low-mid tier bracket would include BAs, News Associates, Editors, Writers, APs, lvl 1 Producers etc. mostly those without direct reports.
Staffed exempt get 2 weeks per year of service rounded up. (Ex: 16 months will get you 4 weeks payout). Freelance BAs and non staff APs don’t even have that guaranteed, so unsure if they will get the same.
@ypd+1tZK1OyV, what areas of news have you heard about cuts in? The news division is SO over bloated with VP, EPs, SVPs… we seem to have 30-60 people at the VP level or above. Plenty of ‘thought leaders’ but no one left to do the actual work below them. Will only get worse.
Any correspondents or news leaders cut, or just the hard working foot soldiers who actually keep the place upright? Thoughts are with you all.
back to the CBS News packages ... low & mid-level jobs are ??? Broadcast Associates (aka PA), associate prod? What about producers and then what about producers with contracts? News works a bit differently than entertainment.
https://lipskylowe.com/services/wrongful-termination/how-to-protect-your-rights-in-a-layoff/the-warn-act/
Does anyone have experience negotiating severance if you are over 45
Company policy is SVP doesn't get a contract automatically. Most do not have one and if they do it needs to be justified as business critical
2 weeks is a joke, should be min 3 weeks to do this
CBS news is two weeks per year for the majority of low-mid level workers. 4-6 weeks of healthcare.
What other depts of CBS News impacted? Any guess to the total # from CBS News in this round?
severance package is on top of warn 60 day notice period - salary ?
Curious about what CBS News packages are. Unlike the entertainment divisions - the news division does not have bonuses ... at least at SVP and below.
SVP is also based on what is in their contract. Some will get more than one year, but no more than two.
From what I have heard bonuses are prorated. As far as packages what I have heard is VP and below is 2 weeks for every year. SVP is a year and EVP is whatever is left on your contract and if less than a year then they get a year. All bonuses are pro-rated and benefits till November.