I read about people on here waiting to be laid off so they can receive a severance package.
What exactly is the package? I came across another thread that said 2 weeks pay for every year worked.
Feeling very nervous and in the dark about all of the changes and the general culture of fear around the company.
This place is so messed up, a colleague and very good friend outside of work was there almost 20 years. Was let go, got 2 weeks per year. Within 90 days was hired back as a contractor and a great rate, and was getting their severance at same time plus theor contractor rate. Talk about double dipping!!! When their contract was up and severance was too, they were offered another FTE position which they declined because they got a much better position at a competitor and it’s definitely paid off for them.
Meant poster, not " poser" my apologies! But thanks for the info!
Also (as ‘the poser’)…. HR also has a program to help displaced associates with career counseling and to help find new employment. I didn’t need it, I already had a network outside of BAC. And yes…. Double dipping was very sweet. My new paid for with a check, $52k SUV will verify for you.
I guess you’re referring to me as ‘the poser’. Short answer…. No!
For the poser with 25 years, did the severance stop after finding the new job? I was always curious how that worked. The double dip would be amazing
I was there close to 25 years and got three weeks pay for every year over 18 months. That was a few years ago. On a side point, I walked into a better job with zero stress and six weeks of annual PTO to start, three months after I was severed. I don’t miss BAC whatsoever. I do miss a few of my former peers that I worked and traveled with.
they are relying on attrition. dont count on a severance package.
2 weeks per year and minimum is 8 weeks. If you make it to 20 years it increases to 3 weeks per year with a 18 month cap.
I think that 2 weeks per year is standard.