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Posted: 6/26/2001 11:00:26 AM EDT
How much severance pay is it customary to receive after 10 years of employment?
Link Posted: 6/26/2001 11:05:20 AM EDT
One week's pay for each year? Hope this question doesn't mean you're getting laid off.
Link Posted: 6/26/2001 11:07:26 AM EDT
Last place I worked at, which was a commercial bank: At a bank officer level it was 3mos salary plus 1mos salary per every year service over 1 year. This also included benefits. Most large companies will have at least 2mos salary and benefits. This would depend of course on your level. Execs tend to get 6mos and up.
Link Posted: 6/26/2001 11:12:33 AM EDT
I have been laid off twice in the past six years, once after nine and a half years with the company. In both cases, I was given two weeks salary for each year's service and my medical benefits were extended for 3-6 months. If you have been caught in a lay-off, I would recommend keeping yourself as busy as possible while you are not out on interviews and job fairs. Do not give yourself the time to think too much. If you have kids, spend some extra time with them while you are "on vacation". It is time well spent before you get caught up in the rat race again with a new job. It goes without saying that now would be a good opportunity to spend some time at the range. Well that's my $0.02. Take care and good luck!
Link Posted: 6/26/2001 11:14:53 AM EDT
Those are some generous layoff bennies. We're going though a layoff in aerospace manufacturing. Severance is two weeks pay plus one week pay for each year of service. Norm
Link Posted: 6/26/2001 11:16:40 AM EDT
I would get a swift kick in the ass from my employer and a small weekly pittance from railroad unemployment.
Link Posted: 6/26/2001 11:17:54 AM EDT
BTW, are you looking for a new fountain to work, Imbroglio?
Link Posted: 6/26/2001 12:07:14 PM EDT
It appears that I am getting no severance pay at all. Getting a raw deal as usual.
Link Posted: 6/26/2001 12:20:11 PM EDT
Whatever it says in your contract. What? You have no contract? Then whatever the goodness of your employer's heart dictates. What? He has no heart? Then can you say, "Two-point-zip and a cardboard box for the stuff in your desk"?
Link Posted: 6/26/2001 12:47:41 PM EDT
No severence pay=no release ;-) Talk to a decent lawyer out your way. If you don't get any severence pay then there is no reson to sign a release. If you are black, hispanic, or have a tribal card, or are over 40 you may have a case that is settleable (aka makes a 'prima facie' case). Woman, (and depending on your state, fat-short-gay-dumb-crippled-sick) you may get a settlement. Oh-woman w/child makes a good settlement too. Just go ask a local lawyer. Don't sign a fee arrangement without asking to get the percentage down a little bit.
Link Posted: 6/26/2001 12:57:04 PM EDT
Originally Posted By Imbrog|io: It appears that I am getting no severance pay at all. Getting a raw deal as usual.
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This is what happened to the "second" group that was cut from where I used to work. The first group consisted of 18 people (I was #8), and we got our "package" deal. Mine was 1 week of pay for each of my 18 years service. Then they took away 2 weeks for a "separation agreement" or some shit, and then took my 4 weeks earned vacation, and THEN took all of my 95 days sick-leave. The BASTARDS!! [spank] The second group consisted of 20 people and they didn't get "DICK"......... Or, is it that they "GOT DICKED"?? [sex] DK - Less stress now.....[^]
Link Posted: 6/26/2001 1:06:12 PM EDT
I don't see how getting a lawyer will help when the place is going out of business. I just thought that in my case, severance pay would be given as a sign of gratitude for staying loyal and on good terms with the company for so long. A final bonus if you will.
Link Posted: 6/26/2001 1:08:54 PM EDT
If they are going down the tubes then getting a lawyer won't help. It's places that are still afloat that you can collect from. But... check and make sure this isn't a scam to cast off the old workforce and churn up a 'new' corporation to take over the business.
Link Posted: 6/26/2001 3:01:30 PM EDT
gratitude? loyal ? good terms ? bonus ? what the hell are those words? You should know Business & caring don't go together.
Link Posted: 6/26/2001 4:50:23 PM EDT
Speaking of GAW, is she getting laid off too? Maybe you can console her. [:D]
Link Posted: 6/26/2001 5:07:14 PM EDT
Hey Imbrog, We are always hiring. Can you take a punch? Mind wiping other peoples asses? You get seven weeks of paid vacation a year. Lemme know.
Link Posted: 6/26/2001 5:22:00 PM EDT
Imbroglio!!! If they're going under, the last thing they want is financial/legal trouble. Hit them hard and hit them now! If you've got something on them let them know what's coming, scare them, get a lawyer, make a demand. They HAVE MONEY left, and they want to keep it for themselves. Do you think the boss is getting no seveance pay? Get some of his. Don't hesitate.
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