What’s the current severance policy for those impacted? Can’t seem to find it in connect.
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@aj replying to myself...
that's greater than 10 x 2 weeks = 12 weeks
should have been:
"10 x 2 weeks = 20 weeks"
Last I checked, it was two weeks of pay per year of service OR two weeks of pay per $10k in base salary, whichever is greater.
So for someone making $100k with 20 years of service, they'd get 20 (years of service) x 2 weeks = 40 weeks of pay because that's greater than 10 x 2 weeks = 12 weeks.
But for someone making $100k who's been with the company two years, they'd get 10 x 2 weeks = 20 weeks since that's greater than 2 x 2 = 4 weeks.
That's just for non-Bank employees though. I believe Bank employees get a flat 26 weeks of pay regardless, down from a flat 52 weeks of pay a year or two ago.
go/askhr, then type severance in the search field and you should get linked to the KB and policy
Is it still 2 weeks of every year employed OR two weeks for every 10k in salary, whichever is greater? Or did they change that
Used to be 2 weeks per year of service with a minimum of 4 weeks I think but I’m not sure
Well and before that bank was a full year of salary (which was nuts)