I have searched for this topic and I can find nothing as I can only go back so far. I am so confused. Whoever has had to deal with this can you please let me know what I should or shouldn't be doing solely based on your experience and if I really need to get a lawyer as they state in these paperwork. As if being let go was not bad enough I now feel like a complete mo--n in trying to understand this. Thank you.
13 replies (most recent on top)
Post ID: @OP+1cLs0VRn
OP, my advice to you is to read through the package several times, list your questions and note due dates. Think through your good friends and family and decide who seems to be the most organized, logical and intelligent. Bounce it off of them, listen to the advice, ask questions and be sure to buy them a nice dinner. A friend like that is a treasure.
I got an attorney and found it was a waste of money and time. Either take the money or dont.
LHH people are hit or miss. Depends on the person.
Call into sub hotline every week and don’t forget to file state unemployment.
Enjoy the next chapter of your life. It will be better than BK, that is the only certainty of life.
@1hnn+1cLs0VRn, I've been certifying since January 2021 and I only certify after each pay period and not every week. I've had no issues receiving my bi-weekly pay.
If they are still offering job-seeking assistance through LHH, please USE IT. They prep you very well for job-hunting in this virtual environment and are worth their weight in gold (especially the coach). I am now happily employed at a major BNYM competitor, at a substantial salary and bonus increase. About the only thing of substantive value that those clowns gave me after they separated from me. Asshats.
While I wasn’t happy about getting let go, I must admit that the folks available to answer all questions about the details to follow were extremely helpful. I jumped on all three (of the same) WebEx calls just to ensure I understood everything. I downloaded all of the documents for reference and I was eventually notified when to pick up belongings over the summer.
Apply for your state’s unemployment, and yes, certify your SUB payment after the money hits your checking account, every other week, just like a paycheck.
I hope this thread has been helpful and informative!
You have to certify SUB pay each WEEK, not pay period.
Thank you everyone for your kindness in responding to me. The shock is slowly wearing off. This place is such a 🤡 show. I read everything and can't believe they have the nerve to offer assistance in helping you find employment after they fire you at no cost to you. How thoughtful, as if they couldn't care if you actually threw yourself off a bridge at this point. You're not their problem anymore. I too wish everyone luck!
@OP+1cLs0VRn, remember that you have to certify after each pay period that you are unemployed or payments will stop. Apply for unemployment and the letter will specify what your separation date will be. For collecting unemployment remember that you got a separation package and not severance pay. If you say the latter they will not approve your unemployment. Once you start receiving unemployment benefits you have to certify that you are not working every week without fail. Read the package all the information is there for you about your separation package. Good luck and count yourself lucky, this company has gone from bad to worse.
This is your proof of just how bad things are at this company. Think about it. The company lays you off and gives you absolutely no support whatsoever. You become so desperate for help that you have to come here to layoff.com to try to get any assistance.
I understand. It’s kind of scary when you get the paperwork and are signing away your rights.
But if you don’t sign, your benefits won’t continue, and that’s one nice thing about the packages at BNYM… because it’s not a lump sum, your health insurance continues through the separation period, which is a relief.
@xfx+1cLs0VRn. Thank you so much. I had no interest in getting an attorney as I have no reason to believe that I was eliminated for any reason other than a restructure, something the Bank is so famous for. It's just that the way it was worded was a bit scary. I am going to try for unemployment as well and thanks to your response, will sign and get this over with. I truly thank you for taking the time to respond!
@xfx+1cLs0VRn. Thank you so much. I had no interest in getting an attorney as I have no reason to believe that I was eliminated for any reason other than a restructure, something the Bank is so famous for. It's just that the way it was worded was a bit scary. I am going to try for unemployment as well and thanks to your response, will sign and get this over with. I truly thank you for taking the time to respond!
What are your specific questions about it?
I’d you’re asking whether to accept it or even try to negotiate for more, the answer is, for the vast majority, you should sign and take what they offer.
The exception is if you feel you were discriminated against in a provable manner (and note that each time the company does eliminations, I believe they have an external firm run models to see if any groups…gender, age, race… are out of proportion). (I know someone who successfully got a bigger payout fro, a different employer after an outsized number of those eliminated were women over 55… but there was a pretty clear pattern.)
They aren’t going to offer you more just because you involve an attorney.