Do you know what a typical severance package is for the folks who work in Corporate?
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For international market - severance pay must comply to local government regulation.
In one country in ASEAN, when a company does something like this, they must give away around 24 months salary for an employee with 10 years of service. They have a formula on this.
I would not complain if I was to get 52 week, I am not in corporate though
Heyer also received an $8 million cash severance
Stahl received a $3,5 Million cash severance
52 weeks, wow, that's sweet man...
Corporate salaried is 2 weeks per year served up to 52 weeks. Grade 13s all get a year. Upper management goes up from there.
Severance is generally based on job grade or level. When my position was "eliminated" in 2000 I was fortunate to get a year severance as I had 20 years of service at the time. This is not a policy and subject to current managements' decision.
The cost of the 2000 SOA was $850,000,000 to the company as published in the annual report. Wonder what a Gulfstream jet costs?
One week per year of service, with 12 weeks being the maximum. Or something like this, haven't asked about this in a while, now it might be good time to refresh my memory, everyone around me is very anxious.