Oklahoma folks who have already been hit: What type of unemployment benefits are you getting? Did your severance package affect your unemployment benefits? Were there any types of retraining opportunities offered? Did any of you draw out your 401k... how long did that process take?
5 replies (most recent on top)
Damn, that's some shit severance policy. I've seen operators give 3 to 4 weeks per year worked.
Unemployment tops out at about 9 - 10 in oklahoma or at least has for those of us laid off in October. We all came out about the same even though our tenure was from 1 year to 5 years. $300-$400 a week for about 6 months. My 401K took 6 weeks to hit the bank but not sure about anyone elses. Severence was one weeks pay per year worked plus 2 weeks pay in "in leau of notice" also, the IRS is making ol big red leave in their contributions to our 401K even if you didnt make the 5 year mark. They actually had to return it to my account.
You can find out what your state unemployment rates are by going to your states unemployment webpage.
How much is Oklahoma unemployment. I don't mean an exact figure....I mean like....X number of weeks at X% of your pay up to a maximum amount of X.
Withdrawing your 401 is an option, but the process can take up to 30 days before that option becomes available. You can also chose to roll over your 401 into a new account, ROTH, IRA, etc. Fidelity can assist you with finding the right option for you. Keep in mind if you make any withdraws you may have to pay a tax fee for doing so.
The current severance is as follows:
1 week pay for every completed year of service, up to 13 years;
2 weeks pay in lieu of notice; and
All unused vacation days will be paid out.
Halliburton does not dispute any unemployment fillings for those affected by a layoff. That process is dependent on the state you live and file in.
All those who are laid off do receive assistance from Right Choice for finding new employment, depending on your job title, you can get anywhere from 30 days of assistance up to 6 months.