What was the severance?
2 weeks of base pay per year?
Was it capped at 6 months, is the important question?
I see talk here and there but never truly confirmation.
How is everyone who was laid off?
Do you think there will be any voluntary or involuntary RIF with pay this year?
@17w Go to Fid central and read the retirement documcument for more detail, but basically if you qualify for retirement (age 55+ with 10 or more years of service) as part of the retirement package you get a one time payout or bonus based on years of service. It's in 5 year increments up to 6 months pay. 30 years you get 6 months, 25 you get 5 months, etc
@ar What is the retirement longevity program?
What's retirement longevity bonus
Severance length was determined by pay ranges not grade. More you made the longer you got capped at 6 months. I’m doing great, fidelity was horribly toxic especially in tech and I’m so glad I was paid to get out. Su-ked for the first month after getting the news but got past it quick. Only thing that su-ks is I will probably never have the level of benefits that fidelity offered.
The retirement longevity bonus is nothing new and quite frankly not much better than a severance packge if RIFd
There will be no "voluntary RIF" or buyouts (VBO). The new retirement longevity bonus has replaced VBO.