How does this work? Do I get the severance amount listed PLUS 2 weeks pay for every year I worked? Or is it just one lump sum of that severance amount listed? if so is this paid out on the last check or is that separate?
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There is a cap. I think it is 15 years. I am not sure of the number of years. Your severance check will come 30 days after you sign the severance agreement and fax it to HR (if you are not planning to sue the company). You will get your vacation and bonus with your last paycheck. The deduction for the bonus is about 45 percent. I hope this helps.
capped at 35 weeks
https://www.thelayoff.com/search.php?q=Verizon-Severance
the two weeks pay for ea. yr worked is your severance. they should also give you your targeted bonus amount. it's been several years since i was riffed but i think it came in a separate check (less a huge tax hit) a few weeks after last day on payroll. i also got another check with remaining vacation days paid.