I have been with the Bank for 15+ years, manager asked for my resignation during 1on1 conversations. Is this kinda layoff without any severance package? What are my options?
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Yeah, asking for a resignation letter is a clear sign that you have been politely fired. If you are in a "right to work " state like NC, then it doesn't matter if you provide a letter or are fired. NC law makes it illegal for a former employer to provide negative information about termination. Unfortunately you can be fired for any number of reasons, but most likely the reason will be "poor performance"
If you quit, you can not collect unemployment insurance. You are qualified for UI if laid off or fired. Talk to your attorney.
Never resign. Consult an attorney and threaten to sue unless you believe they have an iron-clad case against you. Force them to pay you severance and unemployment, cobra, etc. Give up nothing. In the meantime, start searching and devise an exit strategy.
You might want to consult an employment attorney. I would have the attorney present during any conversations with HR. HR works for management, not you. HR and management are not your friends. They aren't looking out for your best interests.
Sounds to me like they are giving you an opportunity to resign vs being fired. Agree with post below, they only would do this if there is cause for termination. Are you registered? Likely giving you an opportunity for the termination not to go on your U5 and impact you being hired somewhere else.
Either they have cause to fire you or they don't want to pay you severance during a layoff. If you have gotten good reviews don't resign unless you want to.
If you do decide to take the offer and tender your resignation, confirm beforehand that you will be marked as rehire eligible (I would recommend getting it in writing).
Something odd is going on in this scenario and there may be cause, but that should be disclosed to you as part of the conversation. I would also recommend that HR is witness to the conversation.
Agree with @xfs+1lOQDuTf -- In my 30+ years here (most as a manager), have only heard 3-4 instances of indivs being asked to submit a resignation letter -- and each of those were due to clear cause.
The managers did not want to fire the people (more protracted process, one was son of a client, another was a D&I hire, etc. - but there was clear cause). In each instance, manager gave indiv the option to exit gracefully with nothing on their permanent records.
You should try to find out the reason. Press your manager for a reason with some b.s., like for your "personal improvement/development". It may be a reason your manager is not comfortable discussing -- or they are worried of mis-speaking and having you throw their words back at them. Usually there is an HR person in these conversations. Maybe ask to speak with HR if manager cannot give you a reason.
IME, this is not done casually. There is something serious there. Manager would not risk doing this on their own without HR being aware.
The bank doesn't want you to collect unemployment insurance. This is their way of telling you to resign rather than get laid off. Things are going to get really bumpy in the next several months. The news I am hearing is not good for this bank and other big banks outside of here.
If you have been asked to resign, there must be cause for termination. The Bank does not ask for resignation in lieu of layoff. You should find out more and understand your state's employment laws.
Why would He or She ask for your resignation. I would not give it and tell them to lay you off. Plus if you quit you can't collect