#severance

Apparently we still need to "sign up" for the Verizon paid COBRA insurance during our severance period.

Medical, Dental, and Vision for you and dependents are $0.
There are additional charges for things like extra life insurance, which you can change (decline).

We have until 3/5/26 to sign up for the Verizon paid COBRA insurance during our severance period, BUT you must still sign up, its not automatic (which was not made very clear by HR...another fail from Verizon in regards to this RIF)

I did mine today, says the Total Annual Cost $0.00.
I printed the sheet in case there is any discrepancy and to cover my a-s!

Anyone else still not receive their severance offer? Was let go in early December and have still heard nothing. Really frustrating as I can’t stay unemployment until I know what I’m getting.

I heard that VSP is being offered company wide now. I guess involuntary may be a few weeks or months behind.

Wondering if anyone has credible info on how severance actually works. I know its 1 week for every year maxed out at 25.

No suprise that they have given out a lot of 4 ratings to tenured folks as part of the curve.
How does this affect RIF coming up?
Severance policy is not too clear it mentions that if your job is eliminated as part of re org you are entitled to severance , however there is a bullet that explains (perfomamce based firings dont apply) question is what if you have a 3,4 overall rating. Had even a 2 in ome section (i know citi makes 0 sense)

How will this impact the folks who have bwwm forced 4s?

Praying I'm among those affected. Yes, I know the job market su-ks, but I've been here long enough to get a decent severance that'll have me covered for a while. And if I can't find a new job within a year no matter the job market, then I guess I deserve to be jobless and broke.

So again hoping all the managers that were riffed did okay with some severance it’s not a cure all but helps get em thru!!!On the associates union side assuming they want us gone .It does not sound like it will be an across board Eisp offer for everyone and anyone .It sounds like there will be one but it will be targeted.Unfortunately it would seem like since most of the associates are retirement eligible they won’t let everyone go at once.So if you need that little extra buyout cash to leave sounds like your gonna have to stick it out till your age or finance allows.Im assuming it sounds like they will probably agree on some sort of 3-4 year extension.So we have to assume they may actually not be prepared quite yet for the entire field work force to leave .Sad the company over last 20 years did not plan ahead .It makes no sense that our entire work force at this point especially in the physical field operations looks like a retirement home.If your 50 years old your considered a young boy in this place

so the 2026 benefits book is now available and as expected, nothing has changed in terms of severance benefits, still 8 weeks up to 4 years of service then 2 weeks per year of service until it maxed out at 52 weeks for 26+ years.

They can throw any attrition combo at me, but I’m not leaving on my own. Let them sweat trying to get rid of me, or anyone else for that matter, and when it’s over, I’ll take my severance and all benefits. I haven’t busted my back here for years to walk away empty-handed. If the company hasn’t appreciated us, we can damn well appreciate ourselves.

I was displaced on 10/28, got final paycheck / vacay payoff on 12/26 end of non-working. When does the first severance check deposit?

Serious question .I know people lost there Jobs it’s stinks .I Hope the non management ended up with some kinda severance that was pretty good.I m hoping on the union side we will be offered this across the board to everyone no strings Eisp in first quarter.I assume Dan wants to rid himself of some of us too .So unfortunately bad financial management on my part would say I kinda need a package to leave or I have to wait it out another 2 years age .Just hoping they let everyone who wants to leave Go with a bit of A boost .I mean at least let the old move on .Just worried that they don’t have anyone other then old so they won’t let it happen. Wonder what the median age of the operations side actually is???

Has anyone received there severance lump yet

THEORETICAL SITUATION: You're in NJ and were given 90 days notice; however, you have another job lined up to start well before then. According to the "Mgmt Severance Program FAQ" doc:

"If you seek to separate from the company prior to the last day of employment date set forth in your Notification letter and still remain eligible for severance, you will need to complete and submit a valid Declination of Notification Period form, which would need to be approved by the appropriate parties at the company."

QUESTION: Has anyone attempted this or have any insight as to whether or not this request is likely to be approved/denied?

Thanks!

The combined total of 75,000 full time employees with 50,000 at c1 and 25,000 at discover will lead to a 20% quota of employees to be fired in stack rankings, a total of 15,000 employees out in PIPs for termination with low or no severance.

I was told this by manager/PDR on the way out. Hoping it's true.

For anyone who’s been let go, did your final paycheck and accrued PTO come in as one deposit or two separate ones? Just trying to get an idea for planning.

Thanks in advance.

Now they've graduated to firing people and forcing everybody out without severance by creating a toxic atmosphere that nobody with any options wants to stick around for. Those who were laid off with severance were among the lucky ones, if you ask me.

Everyone needs to remember that severance pay is a gift, not a right. There's no law that forces a company to offer it when they let you go. If you're at Fidelity and waiting for a buyout package, you're gambling. You could end up in a crowded job market with no savings to help you transition. The smart move is to start your job search now, while you're still employed. Don't wait for a promise they're not obligated to keep.

Received final paycheck as non-working employee on 12/26 that also included unpaid PTO. When will the first severance pay date be in 2026? Will it be on 1/2 or 1/16?

Does anyone know when we will get our severance?

Is it a flat amount, or does it depend on years of service and grade level?

I can no longer access the Severance Portal from my personal computer following my last day worked (it worked prior to 12/19). It also won’t let me reset my password. I sent an email to the address I located with no response as of yet. We’re supposed to have access to it for 6 months. Is anyone else who was impacted also experiencing this? If so, any tips on how to get access again?

From Verizon or anywhere else. What happens if you get a job right away, can you work at another place and still get your severance? On the opposite end of the spectrum, if the severance you got runs out before you are able to find another job, are you allowed to apply for unemployment?

I am trying to sign and it says invalid agreement id. How do i go about it? I thought we had 45 days from last day on payroll.

Are you able to work during severance?... And bonus question can you receive severance and state unemployment at the same time ?

This is coming from your friends across the highway in Deerfield (for now) at Essendant. Sycamore will destroy Walgreens and it will be torture before death. Watch out for yourself, try to get out, don't wait around for things to get better or any claims of severance payouts or bonuses. If not be ready for that day to happen at any moment. Don't get comfortable. This is just the beginning, they are not out for the best interests of the company or employees but rather their assets and any money they can su-k away. For a little context, at Essendant, they bought in their own management to play the game from the top. You have them now. First they need to get rid of employees so they would try to make people quit, RTO, unachievable goals, confusing business model/plans. Then they would change the severance policy, usually days before the layoffs and reduce it every time until there's nothing left. They will start selling off anything they can, in our case the core of the business, the warehouses, and business units they could get money for they sold. They sold off the core of the business, and all that remains is the empty shell of what once was a fortune 500 company. Always with the narrative it was low performing or best for the business. The top people will leave, they will torture anyone willing to stay on because they know they are desperate until the end. It might not have been great before, but it's surely not going to get any better. Also, it appears we will be abandoning Deerfield at the end of 2025 (in days), leaving the lease for the HQ building, with no plans on what will happen next. Bankruptcy maybe? Our parent company Staples is just holding on as well, and Quill also nearby saw their whole company be destroyed. All the other Sycamore holdings are also just barely existing just to keep those assets on a balance sheet so they can convince investors to move onto the next victim. Walgreens is and will be nothing more than a cash grab and a way to pad their holdings. There is no long term strategy, no business plan, and everything will just be scam. Just look at the partnerships with Amazon for their other businesses. It's all a distraction, and minor income, distracting from what is really happening. Wish you well and in closing, please care for yourself, find something else, f*** the PE.

I keep seeing posts from people saying they can’t land a job, and I’m confused. So many who have been laid off seem to refuse anything that doesn’t feel perfect or exactly their level. How do you manage to be so picky if there’s no paycheck coming in? Do you think severance will last forever?

ever since covid ive been doing the /r/overemployed thing but with target being j1 bc of health insurance since the layoffs in october my manager has been on my behind nonstop expecting more and more work to be done im slowly detaching from my role and pushing back sayin things like itll get done when it gets done i kinda want to get laid off on the next round and get severance but who knows when thatll be until then im gonna keep coasting and attend meetings i am required in and skip the ones im not and just have the mouse jiggler running do the IT computer ppl have anyway to tell that im not really doing anything for most of the day?

again just want to survive until next layoff with severance by doin bare minimum and cashin checs

No more hiding and evading RTO. The policy is the policy for one and all. Firstnet or Fiber, 5G or Gwiz, time to move has come and gone as all will be on Friday 1/16. The exceptions and favoritism end in Cohen and Leggs orgs so bye bye teachers pets who join the breadlines like the rest of us. The smug untouchables now lose their favored nation status and will get a reduced severance down to four months. A few have already been given a heads up. Other’s will get notified next week before the official notice comes. Sad but central plains and midwest are not hubs and people have had years to move and they did t. Not fair and now pet status ends.

A recently displaced HR manager at HY told me in a 1:1 that CS no longer wants to continue paying severance. Instead, he has instructed his directs to relay to all managers to rely heavily on performance reviews to justify terminations. He also mentioned that there is a plan to cut 30,000 employees in 2026.

Long story short, Rif'd 10/30 with last day 11/13. Signed and email severance agreement 11/14 and received response 7 minutes later saying they received the agreement and are reviewing it.

Fast forward today, call the hotline and they said they didnt receive and are opening a case with People Team.

Anyone else go through this ringer?

When does Wells Fargo pay out unused PTO for those who were laid off and their severance period ends today?

How long does it take to get the actual severance payout, once you accept the agreement? I was RIF'd in September, received and signed the agreement at the beginning of December but there's no information on when to expect the payout

The goal to let people go is a different feel now they will look for every little reason to fire someone and to make sure the severance cost plummets so make sure you hit your goals office expectations etc yes I know this is old news but it isn’t because it is a real goal so look for more firings in 2026

I didn’t see anything here in CA, but all the posts last week were so certain of mass layoffs. I would have expected to see some posts sharing their severance details

When an employee hits the report I get for being in the office for 7hrs and 15 mins, it’s time to be worried. They obviously don’t want to pay severance in 2026. Sorry to be the bearer of this news but watch yourself, it’s about to get turbulent

Are we suppose to get a final pay check for the last month we worked for Nov 20- Dec 20 and then our severance 3 weeks later (End of January) ?