Job Layoff - Severance Package Offer (employee, extensions, apply, 401k)

[CollegePalooza]

Hello All,

I was just wondering, for those who have been laid off.....what was the average package you were offered?

Please provide the:
Industry of your company, length of your employment, type of roll you were in, the severance package you were offered, year of the layoff, and city state.

I'll start...

Financial services industry, in 2011, I was there 3 years, non-management accounting role, and was offered 3 months pays + any accrued unused vacation time, in North Texas.

Also, have you ever tried to negotiate your package?

[player07]

I worked for a fortune 500 company many years ago in the chemical industry and got laid off towards the end of the calendar year in 2010. I was there for about 5 years in a salaried position. I hold an advanced degree in engineering. They offered me 3 months of severance + payment for any unused vacation time.

I did not try to negotiate my package as i was happy that i did not have to come to that workplace again. I took the offer and ran with it, which i thought was very generous.

[jghorton]

The 'Severance' package is part of the Standard Practices and Procedures of virtually every large company (and small ones, as well). The amount and terms of the package is neither an "offer" or "negotiable", except in rare cases, where a company may be seeking 'volunteers for layoffs.' But, even then, they aren't indiscriminately looking for 'volunteers' among key employees or vital positions.

[Jkgourmet]

Public accounting, administrative manager, including local HR functions.

Just prior to firm wide layoffs and mass firings in 2009, the personnel manual was rewritten to include a standardized severance package for all terminated employees (with or without cause) that was based solely on length of employment. Period. It applied to all employees, regardless of department, level, position, etc. It did not apply to Partners, of course.

Each year of employment equaled one week of severance. It was non-negotiable (which was also a change in policy. Severance was WAY more generous before the planned layoffs and mass firings.) All accrued unused PTO was paid (and this may have been state law in CA, which this firm had to abide by as they did business with the State of California). Health insurance was per the contract - anyone employed on the first of the month got whatever the employer would pay for current employees through the end of that month. No extensions on employer paid premiums.

I don't like that they pre-planned all of this, but DO appreciate that the policy was fairly applied to everyone, with no special treatment or favorites.

Compare this to my prior experience with a "layoff" in 1998. I was (mis-)diagnosed with cancer, but ineligible for FMLA because I had worked for the employer for less than on year. One day after they heard about my diagnosis, they decided to "lay off" two employees - me (who had been promoted and gotten a raise 8 weeks before) and one that was already on probation anyway. Gave me 3 months severance and 3 months health insurance. Didn't tell me I didn't have a job for 3 weeks (until I was discharged from the hospital).

BTW, the second employer was a very well known non-profit with a mission of training the disabled for employment. In retrospect, I should have told them to take their 3 months severance and shove it.

[Scottay]

Industry of your company - Civil Engineering Firm, Land Development
length of your employment - 3 Years
type of roll you were in - E.I.T./Designer
the severance package you were offered - $0.00
year of the layoff - 2008 and 2010
city state - Kansas City, MO and Denver, CO

[wireyourworld]

I had 2 admin assistant jobs where I worked each less than a year. Both employers gave me 2 weeks pay. One job the employee who I was hired to replace, recovered from what could have been a terminal illness and wanted to return to work. My employer, rightly so I think, felt morally obligated to give him his job back.

The other was not a good fit, but because my employer had some respect for me she chose to give me the 2 weeks pay.

[knt1229]

I got 3 months pay including commissions, any unused vacation time, my 401(k) was immediately vested even though I was just shy of it automatically vesting, I was still considered an employee of the company for one month after the layoff which meant I could still benefit from the medical and other company benefits. I was satisfied with it.

I had been with the company for almost 3 years. I was a business to business sales representative for a major company.

[groar]

Industry of your company: nonprofit
length of your employment: 4 years
type of role you were in: high level administrative assistant/program coordinator/webmistress/it person/grant & promotional writer/whatever else needed to be done.
the severance package you were offered: 3 months pay, unused vacation time, and a wii! i was also offered career counseling in lieu of some money but i went for the money. we would have been offered health care coverage for 3 months as well, but we all had either found other jobs or were on spouses' plans already.
year of the layoff: 2010
city state: pittsburgh, pa

we had an ED who was really wonderful and caring and truly looked out for us; she was much more generous than i'd expect many employers to be. we were laid off because the organization closed.

[Attigin2012]

I received a very good severance package last year along with several hundred people at my previous e,player

2 weeks pay for every year (lump sum payout, which made us elig for unemployment benefits immediately after the layoff
Five months notice of the layoff
Outplacement counseling, résumé writing assistance and interviewing classes
Insurance benefits paid in full for 2 weeks for every year
Prorated bonus for the year and a profit sharing contribution in the following year.
Opportunity to relocate to another state and a full relo package if taken
Several on site job fairs
We also had the unemployment office come in to do seminars, 401k people came to talk abt retirement accounts and EAP was there for counseling and support.

I hate that I lost my job but that was the best way ever to lose a job if it has to happen to you. I am really thankful that our company really took care of us in this unfortunate time, I know others who weren't as lucky.

I had been at the company for 14 years , telecommunications company and I was a customer service manager. The severance was the same for every employee.

[YAZ]

I worked as a mfg. engineer for a mid sized crank shaft OEM for two years. The company was sold and all mfg. moved to China.

I was given the choice of permanent lay off or termination with two weeks pay.

Detroit area.....2000.

I took the money.

Got canned on Thursday.....was working in a new role the following Monday.


I'm not confident that I could do that in today's work environment.......