Is anyone in the U.S. still getting full severance when being laid off? Or has the firm moved toward mostly just firing people with nothing? Does anyone have a guess as to what the mix is in the U.S.? I keep hearing from people who are clearly disgusted and discouraged, that "no one is getting a package". But my sense is that this probably isn't entirely true. (Maybe it's just wishful thinking on my part to believe that I still have a have a chance at getting a good package when my day comes.)
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@qq What kind of claim do you make that you were able to settle that quickly?
@cp I would love to talk to you more about your experience and how you handled it. Sounds like you did well in the end, and for that I'm happy for you. Let's just say I've been here a long time. Years of exceeds and meets expectations reviews. Almost always pretty well liked by my managers and coworkers. My mid year went reasonably well - meeting expectations. But still, it's very concerning to hear the way some people are apparently being dismissed.
@v3
Are you saying, if you are offered severance, you still recommend getting an attorney before signing?
I thought we went from SUB to severance over a year ago.
@qq If you were there for a long time, wouldn’t you have received SUB pay for a year? Not clear on what you gained?
Is it SUB pay or severance? There is a pretty big difference between the two.
As a former member of HR, I can tell you that they are basically calculating that few people will bring legal action vs the severance $ they would have paid. The purpose of severance is to have the employee sign a release in agreement. The wise thing is to find an attorney and they will settle with you.
I got fired for RTO compliance and no severance as I was coming in for a few hours and apparently there is a rule they you must stay the full working day.
I dont care anymore I am happy i got fired I have been working at a startup since I was let go and im fully remote.
@da I got paid for a year. Settled out of court within 2 months. Don’t go away quietly. That is exactly what they want you to do. I had a long productive career there which was great but currently that place off the rails. Horrible
@cp What did you get? I’ve filed discrimination due to a disability. Curious what you received so I know going in.
@OP, I’m in US. How long have you been there? Some who haven’t been for too long receive some sort of minimal package. Maybe a month, maybe a couple months. Make no mistake, they are intentionally/ systemically axing people with no or minimal severance esp if have been there for a long time thinking you are getting a year. If I were you I would assume you aren’t getting much if anything. The main tool they are using is fake performance reviews. This has been going on for a while and will continue. It’s not isolated - is widespread company practice. The fake performance reviews are not illegal but would look bad in court. That being said, discrimination/ retaliation based on age, s-x, race, medical conditions is illegal. I would encourage anyone sc--wed over by this company to punch back. I did and won. Get an attorney and go after them. Won’t need to go to court. They will cave and settle quickly.
If you have been non-compliant with RTO you definitely will not get severance
The big difference is that sub pay now comes out of your line of business' budget rather than the general BNY budget, so whoever's running your line of business will try to get rid of people using RTO, fake ratings, etc. before resorting to paying out a package.
If the company can find a way to fire you for cause to save them from paying you severance, they will. If they can’t find cause, they will lay you off with a severance package. Remember that they do not care about you. They are not your friends. This is not a company that takes care of their employees.
I was laid off earlier this year with severance. I know of at least 6 others earlier this year that also received it.
I know someone that got severance last month, so it definitely still exists.
I know several personally that were sc--wed out of a package... somehow, some way, HR, or someone found a loophole and did an end-around and they barely got anything... don't think it was due to RTO, but can't really say.