I don't know how this stayed silent but there is no longer severance pay. FYI from the laid off to the working.
10 replies (most recent on top)
Actually, there is no requirement for severance in most states. If you have sensitive information - especially knowledge of improper behavior, they will make you sign a statement saying you will not tell anyone what you know or sue them; don't sign, then no severance (that is what they did with the folk let go in September - November 2014). I believe a subpoena may supersede this document, but if the government does not know who to subpoena or where to look.....
I printed it out just in case :)
Several weeks ago the severance information from the employee handbook was posted. They do not have to provide anything. Can pay up to the day you are cut and nothing more if they choose. I would not expect anything.....
93347 is right. Severance is NOT mandatory. (http://www.dol.gov/dol/topic/wages/severancepay.htm) It is optional for the employer if they choose to offer it or now. Now, unemployment is something totally different.
I agree with 347.
Don't rely on them to give you anything. If you get anything consider it a bonus. Move on, my friends. Move on.
Actually severance is dependent upon the states rules and regulations, a company is not even required to give you anything if they choose not to in many states. So why doesn't everyone just heed the advice and start looking now. If you're planning on collecting unemployment with the severance that is a big risk to take. The best gamble is to find a new career, and move on. There are jobs out there, you just have to be dedicated to find one.
No severance.
Check the HR webpage. There should be details regarding any severance for those laid off. Check frequently because they could pull the document down just before a RIF if they intend not to offer severance.
Yes- this is stupid. If you are laid off of course there is severance. If on the other hand you were terminated- than of course there is no severances- DUH!
were you laid off because of poor performance/an incident? or RIF???
things may be different this time around due to the financial health of the company, but in my experience here, there was always severance due to elimination of positions at my campus