Are people actually getting 60 days of severance because of WARN?
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@1ssk+1uzZMhj9 its based on where your department is located
There might be something weird if you’re based in CA but your team is in New York. You might only get the 60 days vs 90.
But let’s say, totally hypothetically, you were located in Florida, and your team is in New York.. you would get 90 days (or 2 weeks per year of service) - Whichever is longer
Does WARN apply to people who work remotely? I’m technically based out of the NY office but live in another state.
It's whatever's longest. If you've only been there 2 years, for example, WARN is longer (60 days in CA I think), so you get that. If you've been here forever, like me, you get 2 weeks for every year.
You get severance as even if you take another job, as long as it's not with Paramount. In other words, anything other than another full time Paramount job probably wouldn't be worth losing your severance for.
In the "offset" part of the severance (I don't think WARN people will have to worry about this), any amount of money you get, including unemployment, will be deducted from your severance check. So you'll never be making MORE than your severance amount during the "offset" period.
WARN differs 90 day NY 60 day CA
can someone clarify tho- is severance inclusive of that ?
If you work for two years you would have rec'd four weeks - and Warn takes care of that and you are done ??
And health is done at the end of severance as well Then cobra option ?
I know someone posted about cobra subsidy and I'm unclear if we would qualify..
Perhaps someone can clarify. Do the severance payouts differ according to individual state laws?
These 60 day and 90 day quotes for severance are not what the folks at Nick got - all based in NY. The Aug layoffs kept you on payroll till Nov 15th. Then people got a few weeks beyond that depending on seniority and how long with the company. It ain’t much that’s for sure.
Thank you for this post on health and Cobra.
This is what it says on my one sheet:
What happens to my benefits coverage after my Separation Date? (Separation Date is December 16th)
A: As you were involuntarily separated, your active Medical, Dental, and/or Vision benefits and Basic Life Insurance automatically continue for 28 days after your Separation Date. Between your Separation Date and the 28 days of extended active benefits coverage, you will receive a COBRA enrollment package from UHC Benefits Services (the COBRA Administrator).
Under federal law, Consolidated Omnibus Budget Reconciliation Act (COBRA), you and your covered dependents have the right to continue your active Paramount Medical, Dental, and/or Vision Plan coverage(s) for up to a maximum period of 18 months following your Coverage Separation Date.
If you wish to continue some or all current coverage after your 28 days of extended active benefits coverage pursuant to COBRA, you must elect it in accordance with the instructions provided to you in the COBRA enrollment package. During your Severance period, provided you elect COBRA, coverage is provided to you at the applicable active employee rate also referred to as the “subsidized rate” or “subsidized COBRA”. Your Payroll deductions for Medical, Dental, and/or Vision benefits will continue as they have during your active employment. Please note your initial COBRA notice and election form will indicate the current full monthly cost of COBRA. If you are eligible for subsidized COBRA, you can disregard this cost as you will continue to have a payroll deduction for these benefits. Such benefits shall run concurrently with any COBRA eligibility period.
To the last poster- how long will the company pay your insurance ?
So you lose severance if you find another job before it ends ?
I've been here for a little over two years, and I'm getting 90 days severance (thanks to WARN, I'm based in NY) plus one week extra. I know people are saying it's two weeks for every year you've been at the company, but it doesn't seem that way.
RSU = restricted stock unit. It is stock options that are awarded every year (depending on your eligibility). A percentage of the award vests each year over a period of four years (or maybe its 3 years, I forget). On the CBS side there used to be a pension plan long ago, which was eventually replaced by RSU offerings.
I had heard from friend health was tnrough the next month Tho some posts here said tnrough the warn 90 days NY
Then cobra option which is the entire cost so would need to look around ..I can't afford the whole premium
what is an RSU
How about health insurance?
RSUs you only get what is already vested.
AFAIK, 60 days + 2 weeks for each year you've been here. Not sure how RSUs are handled