Let’s help each other prepare… If you were laid off, what was the severance like (in weeks, not $)? Other helpful info for those of us awaiting the dreaded calendar invite?
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Anyone left at this steaming pile of 💩 is crazy if they aren’t at least interviewing or already doing another job as “insurance”. These companies don't care about you and will fire you without a second thought. Protect yourself and get your bag 💰 while enjoying it.
Also, get your stuff you need from your pc now; i.e. bookmarks, accolades, sales and productivity numbers for your resume. Don't wait. Immediately after notification of your termination, you will lose network access then the following morning your PC will not let you log into windows AT ALL. Insurance is gone the end of that week (was let go on a Monday) and severance is 2 weeks for every year worked, minus a chunk of taxes. Sign your agreement quickly as delaying will only delay your payout. Make sure you can log into UKG after termination. HR was helpful when my log in didn't work. Challenger and Grey is 5-6 months of access to their site and 2 months (weekly mtgs) with your coach. The market is tight, I wish I would have used the downtime at MSG to take Coursera classes. Hindsight...I didn't think I would be one included in RIFs. My team was successful and showing revenue, but I guess those numbers didn't make it up to the top. They completely scrapped our program. Gone. Be prepared.
It took me a month to receive the severance. That's been the norm it seems with the severance time frame. But had half a paycheck in the meantime since I was let go in the middle of the pay period. The severance doesn't come right away. It's also paid out in a lump sum.
You get paid out your last paycheck - depending on when you were let go within the pay period determines how much that check is. They don't give you the full two week pay if you're let go in the middle of the pay period. Just for the hours you worked. And then the following pay period is when the severance is paid out in a lump sum. You get it all at once. So you should get one remaining check one pay period and then the severance the following pay period.
I’ve been hearing people being laid off are getting 2 weeks severance for every year worked. Does that come in a lump sum? Or are you getting your normal pay every 2 weeks until XXXX amount of weeks?
Agree to be proactive and have your resume updated. If you’re in sales, pull your #s/ accolades while you still have access to the system. Challenger and Gray helped with resume and linked in but the market is really tough right now and a lot of us are still looking for jobs. 2 weeks severance for every 1 year of employment. Benefits terminate immediately, you’ll be offered Cobra. Marketplace was much cheaper. Company is going downhill, FAST. Goodluck
Update your resume and LinkedIn now. Don't delay going to routine or follow up medical appointments. Fill all prescriptions as soon as you are able to do so. Depending on when you are layed off, your insurance might end almost immediately. If you are offered the services of Challenger, Gray and Christmas ask how long you can wait to start the service. You might not be in the frame of mind to meet with them right away. They were super helpful with my resume rewrite to get past computer read applications. After accounting for how many weeks of severance were received, you can file for unemployment benefits per your state guidelines.
I think it depends on which department you're in for when managers are being notified. I stopped receiving placements 3 days before I was let go. How would they have known to stop giving me placements in those 3 days if they weren't notified ahead of time. Looking back that was suspicious.
As a manager who had to let people go, I was given less than a days notice, was told not to talk to them until HR had scheduled the call, and had no chance to defend their employment. My director had no idea it was coming.
These aren't being done in large numbers either. They are "quiet RIFing" people by ones and twos. People are leaving left and right too and aren't being backfilled.
These decisions are being made at the C-Suite and VP level, communicated to HR, and then thrust on the managers to deliver the bad news. It won't be long before Rebecca and Denise will have to start recruiting and fixing IT issues.
Mine was a video call with my manager and HR. There wasn't a calendar invite at all. Just a random video call that wasn't scheduled. I received 1/2 paycheck 2 weeks later on payday that I worked. I had like 2 days left of that pay period. Had received the severance package and separation from company email same day as the video call. Had 7 days to sign the severance. And then waited another pay period to get paid out the severance. So, essentially was given part of the remaining check that month. Then had the severance paid the beginning of the following month that carried me through that month (4 weeks worth) which would total out to be just a month pay. They took about $1,000 of the severance in taxes so it actually was less than what was said in the meeting. By the end of that month that the severance was paid out, it was gone. They give you 2 weeks severance per year you've been with the company.
Side note: everything that is happening is NOT a reflection on you. It took me a while to digest that. Have a backup plan in place or another job lined up if you can. Transition positions if you get the opportunity.
2 weeks per year of employment, also to anyone laid off from this company bad business decisions is not a reflection of you work ethic!