What's the situation with severance? Is it the usual or have there been cuts as somebody mentioned in another thread?
It would really be sad (and low) if they decided to save extra money by reducing people's safety net. As if being laid off was not bad enough...
As of Wednesday, it hasn't changed, as evidenced by my "white envelope".
You know it will be eliminated or are you guessing?
Supplemental income will be eliminated eoy.
Supplemental unemployment benefits are not “reduced” if you get a job. They are done. So you can’t take any kind of temporary job, like a three month contracting gig, or anything without losing your benefits.
Even if it’s contract to hire, you have to wonder, what happens if you don’t get hired and you’ve lost your SUB benefit? I’ve got almost 15 years in, so my benefits run till September. I may as well sit back and collect, start looking for a job around June or July.
I heard no severance but
SUB. Supplemental unemployment benefits. These benefits are generally received from a company fund and are fully taxable as wages.
Two weeks per year of service is the usual.
Capped at one year. Unemployment can be filed in conjunction, however as someone else mentioned if you get a new job, the severance is reduced by the salary you receive.
Benefits remain as is while on severance, cobra for 18months if need be.
what is "the usual"?
Three different managers in thee different departments all heard this rumor as well.
Severance has not changed for this round, but it will in the future.