I was laid off in wireless in February 2015. Maximum severance is 2 weeks per year of service up to 35 weeks, NOT 36 weeks with STI computed as part of total. Outplacement services for 3 months - very helpful so utilize that all you can. Health benefits included for the severance period and then you have to decide whether to ride out COBRA, or if you are considered a retiree, retiree medical benefits.
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Wireless severance WAS 2 weeks for every year, max out at 38 weeks. As of today, it's been changed to max out of 35 weeks so seems that wireless is aligning to wireline severance limits.
I got a package today and it is 2 weeks for every year of service.
After the February RIF, I heard that the 35 weeks was changed to 8 weeks. Can anyone confirm this?
Is paid out over time or given in 1 lump sum?
You can find it in the About You section or call HR directly. I've known of older fellows volunteer (quietly) to their manager or mention that they would not mind if they were rif'd. Not sure if it's against the rules, somewhere, so I don't think it's an official process, since they'd rather people left if they were leaving, rather than pay severance.
Severance pay is Fully Taxed , so dont get too excited when you see the computed amount. Also I heard that Wireline is converting to the Wireless Severance Package