The latest rumor I've heard at the office is that from now on State Farm is planning to reduce severances significantly.
I've tried to figure out what prompted this to start circulating now, but I had no luck in finding a source.
Anybody here knows if this is true or has any more info on it?
Some of the folks in prof-tech roles in Planning were offered voluntary severance. I know someone who took it. That person was an ISD Analyst. So other ISD analysts are not being offered the same. Prof tech at this time 3-6 meetings have not been given an option of voluntary severance. They really haven’t even approved involuntary because to get involuntary you have to have an approved transition plan and right now they don’t have that. They give the buy outs to the leadership that overhired and created the CDE mess in the first place. When they overhired for CDE they hired folks off the street as RA4s who failed in their roles. I had to work hard to get my 4 over my career and they handed it to people who had NO transferable skills. They had not demonstrated those competencies required of a 4. They came in with no skills for the role. Yet they just move them around when they fail and never level reduced them. Level reductions and terminations take work on the part of “leadership.” We don’t have leadership at this company that knows how to performance manage. We just promote bad employees or move them around and pass them off to others.
Our “leadership” got us in this mess and now they are screwing those of us that have worked hard and sacrificed for this company. I’m pulling all the policies I can from SF even if it costs me more with a competitor. My family is doing the same. Every day I hear about good people going to a competitor makes me sick.
The unemployment benefits depend on what state you live in. All States have different rules. Some you can collect right away. Some states require you to wait until you several weeks/months have run out. Maryland is like that.
First line leaders on down get involuntary. Professional and Para are the same. Second line up get voluntary. That's the truth. And it is bs. That means if you have been with SF 20 years as a first line leader You would get a week for each year worked the first 10yrs then two weeks per year the second 10 years. Not the 18 months of voluntary the second line got.
Yes it's was voluntary for the top dogs and it's involuntary for the peons. Secretaries are getting involuntary.
I love how we have to bring up “and so would my lawyer.” Eyeroll. They wouldn’t blush with an employer attorney demand.
So management got voluntary severance and the Prof/Tech will get involuntary?
I think the difference is they are going to stop offering voluntary severance and stick with non-voluntary going forward (which is less). More than expected have been willing to take the voluntary severance and walk out the door.
I would have a problem (and so would my lawyer) if for 20+ years the severance packages were at a stated value and just before they laid 100s - 1000s of employees off they reduced the values.
I read the OP's comment to mean that severance packages were being reduced in value, or not being offered.
“Cutting severances” as in “not offering as many severance packages anymore” or “not canning as many people”?
If one is involuntarily severed, they can still get unemployment benefits I think. If you take the voluntary option you don’t??? Not positive.
Better stock up on office supplies now. You’ll get what you can carry and that’s it, people.
Noooo