Termination Allowance Package. The employees laid off in February got a good package. The exploration group got a little less than the previous deal. This round will be even less. They rework it every round to be a little bit less.
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Got a little less? HA! They jacked everyone's severance but you will get the same they got. Under 5 years your severance got cut in HALF, 5-10 years your severance got reduced by 25%
Who needs ethics or moral standards when you can just bend your employees over in hard times and hope everyone forgets when things improve.
Lowering the TAP the week of layoffs would be grounds for a lawsuit
Don't worry, the board just met. You'll be given more fine print to digest soon enough.
This round will get exactly the same as everyone since April 1st. Yes, there were layoffs prior to the exploration group. Read the TAP policy. Reduction in TAP requires board approval. The reduction in TAP was actually approved in January prior to the first round.
But on the plus side you get a free plant on your way out.