I've heard that due to the huge number of people being laid off and General Electric's current financial situation that's anything but good, severances will take a major hit.
Anybody knows if this can actually happen, or are people only making wild and unsubstantiated guesses? It's devastating enough to get laid off, but to not receive proper severance on top of that...
Oh......it's true all right..........
know for a fact that the package currently being offered is 90% of one week/year you've been with the company. Better than nothing, but not what I'd call "generous."
@1tka why would you not just take the payments then?
Fair??? Where?? I was impacted after being employeed for 6 years and it is true, you get a week of pay for every year of service. Also if you take the lump sum you immediately end your employment with GE. How is that generous and fair. 6 weeks of pay!!! This is for salaried employees i have no clue what hourly employees are offered besides health insurance and unemployment.
Your post is "fake news" because it is an opinion.
Talked to few people who are impacted in the US. The package is quite generous and fair.
Rumors to contrary are fake news.
What future layoffs bring? Anybody’s guess.
Don't be surprised by anything these days. Go spend some time reading "Latest Posts" where you will discover some large corporations are finding all kinds of underhanded ways to avoid paying severance.
That’s not true
If you've been there between 1-5 years expect only a 4 week severance package. That alone is like a slap in the face. GE Loss Wages policy states 1 week for every year of service with a 4 week minimum. 1 month of pay isn't any security when your dealing with financial loss. You can guarantee the one's at the top are getting nice million dollar severance packages while we struggle to make ends meet. Shame on GE for not giving a damn about the employees who work their a-- off everyday to keep the doors open.
It would be ruthless to fire someone to avoid paying severance but that's what's happening. It helps the bottom line obviously. Just remember there are no friends in business.....money talks.
He enhanced my package last year, something they are not required to do by law. If money is tight then expect the minimum.