Does anyone have evidence of layoffs scheduled for week beginning 13th ? Or is it all speculation? If true what is the evidence and what locations impacted.... USA, Europe, India.... ??
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There is no severance package or 1 large payment. Only Sub payment.
I plan on picking the Severance over the sub. I think it’s all at once if I heard that right.
Unfortunately the layoffs are true. They're spreading out the layoffs to keep from having to do a public notice for laying of 500+ employees at the same time, so they're doing them constantly throughout the year. When I turned in my laptop I made sure to skeet all over it first.
Do we get 'real' severance? I keep hearing about this SUB thing.
2 weeks for every year worked (maxed out at 52 weeks, I received 46 weeks for 23 years of service). You will just be getting paid like normally, have healthcare, etc. until you receive your last payment or after you find a new job. The way they know is because you have to call into the firm that makes the payment 5 days after each pay to let them know your employment status. If you are still unemployed you get another paycheck. If you found a job the payments stop. You are eligible for that until the amount of weeks you receive are up. Its called SUB - Supplemental Unemployment Benefit. After SUB stops you can do Cobra for healthcare.
I don't know how widespread this is but today was my day.
:-(
CMIST division, 240G.
Got called from a conference room, knew what was about to happen so I packed a few things I wanted to take home and went to the room. In and out in less than a half hour.
so is the lay off widespread? how many? where?
If you were laid off, know someonewho was laid off, or saw someone who was laid off, how did it go? what was the process?
It started today technology
I was given a “heads up” today, I have great PMP’s and a near perfect attendance record for the last 6years. Never a write up or any kind of corrective action. I will be let go tomorrow. I’m not even close to the only one. Good Luck to you all.
Heard from a member of Senior Management that tomorrow is the day.
Not sure what hard evidence you are looking for – like a notarized letter from Todd Gibbon or Charlie Sh—arf? I got the Jan 13th date from someone who has monthly meetings with senior bank management and the date was also confirmed by industry news publication ignites.com
Evidence is everything is going exactly as it did last year. They're not doing 1 massive layoffs, they spread it out in the year so they don't cause attention and they need the doomed to help with the easing of transition. The ones in denial just need to Google the banking industry for 2020, they're all monkey see monkey do and they are all cutting expenses and laying off as that's the next best thing for performance when you can't innovate. They acted in accordance to the market when it was skyrocketing with mass hiring and now they are preparing for the potential downturn with layoffs as well. It's an arms race on who can be the cheapest.
Nope, maxed out at 52 weeks. Know that for a fact.
Normally it’s 2 weeks for every year worked (maxed out at 40 weeks). You will just be getting paid like normally, have healthcare, etc. until you receive your last payment. Then I believe you can do Cobra for healthcare which you will have to pay like $500-600 a month.
Also, I heard layoffs as well this coming week. It should be in any location where they are streamlining processes and offshoring processes. The company’s plan is not changing: streamline processes, cut expenses, etc.
real hard info: what does the severance package look like: how many months healthcare coverage?, how much money?
Have to ask, what constitutes as 'some real hard info'? What can actually satisfy a question like that?
like what does the severance package look like: how many months healthcare coverage?, how much money?
yeah - some real hard info please
All sounds like propaganda