If you think you will get Two weeks per year of employment as a severance, think again. There is a cap on the severance. Mgmt is not stupid even though they paid bonuses two weeks before layoffs in February!
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I call BS. I wasn’t an officer and got over 100k in severance. It was actually about 81% of my base. From an overall package stand point it was about 65%, I got laid off in 2023
Caps for non officers is $100,000 so if that is half your salary let me know what you do so I can apply lol.
You are wrong, there is a dollar cap and its not what long term high earners expect. Its about 50% of your annual earnings
My husband was laid off from wealth management in November last year. He worked there for 2.5 years and received 1 month of being an inactive employee and then 16 weeks of severance paid out in a lump sum.
It’s capped at one year’s severance. Normally 2 weeks per year up to the one year cap. There have been times they have done 3 weeks per year, though I don’t know what the driver was for that.
So you want to say the layoff not happened because mgmt want to save servance package?