I'm one of those who didn't get an offer, but I'm curious. If somebody is laid off before their VSP date, how much do they stand to lose?
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if you took the VSP, you are resigning albeit on their terms but in most states, that is you quitting - so you will not be able to apply for unemployment benefits.
if you are laid off, you get whatever small amount they may offer you and are qualified to apply for unemployment benefits.
I got 30 weeks pay and prorated bonus plus 7 months of subsidized health care as part of my VSP. I took it. The writing was on the wall.
Depends on how long you've been here. I got a great offer, but didn't take it. Finding a job these days is beyond difficult. If you're aren't a few years from retirement, this deal isn't the bee's knees. Also consider, lump sum deductions. You'll probably get half of what they offered. Unemployment guidelines for your state? And yes, it's driving me nuts that we know absolutely nothing at this point. Did we meet the numbers this round? Who's next?
I didn’t qualify for the VSP due to being new to the company (under 1 year) if laid off, do I qualify for severance?
My "enhanced" package is 4 extra weeks of pay and 3 months of subsidized health insurance rather than 1 month.
My offer included extra 4 weeks of pay, plus extra time that they would cover Cobra.
The 4 weeks of extra pay would of been much better than my state's allowance of unemployment benefits. But I felt like my department would have limited layoffs and my personal position in the department was a little safer; plus I thought there were enough unhappy people in my department that would possibly cover the needed cuts, maybe even exceed.
Hopefully my gamble paid off for me.
Reminder, even if the total cuts equal 20% of employees, that means 80% of us are needed. So it really comes down to what department or team your on as the biggest factor. I am sure each department needed to make cuts and to make the decision easier they went with VSP so people could self eliminate.