Thread regarding CVS layoffs

Layoff severance package - 1 yr or less - grade 109 or higher questions

Who was with Aetna for only a year or less was affected by the layoff. Having a grade level of 109 or above (tier 3 - manager and above). Did you receive 13 weeks and a bonus payout from your severance package?

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| 1361 views | | 12 replies (last October 22, 2024) | Reply
Post ID: @OP+1v7vPJeT

12 replies (most recent on top)

It is objective truth that 109-11 get 13 weeks even at 0 years of service. Just checked the doc in colleague zone. Lower than that aren’t as lucky you can get as little as 2.

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Post ID: @efd+1v7vPJeT

It’s in the paperwork provided.

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Post ID: @ydq+1v7vPJeT

If you are in tier 4 position, then you get 26 weeks of severance for 0-14 years of service. So if you work there for 3 months, then you get the 26 weeks.

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Post ID: @vjl+1v7vPJeT

You get one week for one full year of full time service. This was changed when CVS came in. Aetna used to be 2 weeks per year. Now... It's only 1 week per 1 year

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Post ID: @wtg+1v7vPJeT

So if you get laid off and then get rehired in a tier 4 position, then you get 26 weeks of severance for 0-14 years of service. That is not bad.

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Post ID: @sdn+1v7vPJeT

13 weeks, pro-rated bonus (expect 0% this year) and PTO payout....if you follow the guidelines and sign the paperwork saying you were terminated due to performance

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Post ID: @lps+1v7vPJeT

Yes, level 109 and 0-4 full years of service get 13 weeks.

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Post ID: @avw+1v7vPJeT

According to the link, managers or higher level are given 13 weeks?

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Post ID: @cbl+1v7vPJeT

Severance policy is included in the annual report....

https://content.edgar-online.com/ExternalLink/EDGAR/0000064803-23-000047.html?hash=b57149b63e14b927ba7df1fd1cccf1986bf9624b6f7b5ab0838c729926628604&dest=a09302023ex101_htm

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Post ID: @nev+1v7vPJeT

Likely 60 days notice plus a couple weeks.

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Post ID: @vil+1v7vPJeT

2 weeks per year and that is it

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Post ID: @sbw+1v7vPJeT

13 weeks for a year??? Not happening.

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Post ID: @xkq+1v7vPJeT

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