Anyone know someone or themselves get laid off in 2015? does anyone know what kind of severance package are peeps getting? Does the bank still at least hold to the 2 weeks pay for each yr of service, anybody knows?
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If recall correctly if they offer you a position while on notice for a layoff and you don’t take it you forfeit severance. The reason why so many didn’t stay and look for another job
Important Need Advice
Huge Life Changing Decision
BofA went through a merger and I'm being offered a position at the exact pay but it is five steps down from where I am, moving from a Band 3 to a Band 6. Currently a executive and they are offering a call center analyst role. They are basically just throwing me a bone. The alternative is to take a 6 month severance package and work on business while interviewing.
My thoughts are one if I take the lower tier position in which I will be the highest paid by far then I will be the first one that is laid off. Second the lower tier position will look negative on my resume.
Would enjoy hearing your feedback.
Huge Life Changing Decision
Quick backstory, I have been investing in real estate successfully for twenty years but have not been able to replace income yet. well compensated so it's harder, especially with family.
How long do you get your lump sum? It's been 30 days and I just another paycheck deposit.
Is there a contact number to inquire about severance?
Does anyone know how they select ppl to be laid off?? There are ppl in my dept on final warnings, failing score cards and they are still there.. I have never failed a score card nor been on any kind of notice.. But I got laid off.. This is bullshit and I am member of ADA.. I'm contacting my attorney in the morning..
Does anyone know what kind of serverance package the bank is offering in 2016?
Laid off on 2/11/2015. No warn notice. 2 weeks plus severance. Severance is 2 weeks for every year.
Its cheaper to fire one employee at a time unless they have a large group and even then they will attempt to nip at the heals to eliminate one at a time until layoff time. The lawyers help in this area. They say layoffs cost too much money but firing for not exactly merit reasons is the way to do it. Makes you wonder why you do not see 90 percent of the bank personal celebrating 30 and 40 years of employment.
Regardless of reasons why I was laid off, do I still get a severance pay? Been with the co for 11 years.
Yes Norfolk was just added to the list we had our package talks yesterday you can take a lump sum or over time and that is 2 weeks for every year you have worked there
I was in pittsburgh and yes there was an option to take lump sum or over time.
I was based out of the Addison office until a few years ago when I was transition to a work-from-home capacity. What major departments are in the Addison facility now? I'm only there about once a year now.
In any event, whether or not you are absolutely entitled to severance pay and what it must be is entirely dependent on whether your employer has a specific policy and how they compute "annual salary." If they do have a firm policy about how much must be paid for severance and they have miscalculated your severance amount, then you can file suit for breach of contract if they underpay you. On the other hand, if severance is discretionary, as it is with most employers since there is no law that mandates severance, then they can offer you what they want to as long as they are not discriminating against you merely because you are a member of a protected class under employment discrimination laws.
it was not an option for me / lump sum
Can you take the severance as a lump sum payment?
What groups were hit? Mortgage?
From what location were you guys let go? We had layoffs in Charlotte, NC, Pittsburgh, Addison?
I was let go today. They are doing 2 weeks per year for everyone.
I got laid off today. I got the 60 day warn notice but I don't have to work it and 2 weeks for every year.