What's Your Severance Package Look Like?

from the the-big-layoff-party-question dept

While everyone’s been talking a lot about all the layoffs going around, very few have said anything about the variety of severance packages people are getting. Generally speaking, if you were at a larger company, you were much more likely to get a nice package. If you were at a small dot com, you might not even get vacation pay owed to you – or, in some cases, back wages that were owed to you. Of course, if you were an exec, even at a failing dot com, you might still expect to get a few million as an “exit package”, while the rest of your laid off workers (who might actually need the money) were screwed over.

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Comments on “What's Your Severance Package Look Like?”

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Duffman says:

Hard Workers

What I find kind of sad is that now the hard workers are the only ones left to cut. I know people at an unnamed telecom company who recently announced more layoffs, and their packages started off pretty generous, and have degraded to the point that for the latest round, the rumor is that they don’t even get a % of salary – it’s a calculation based on how much time you’ve been there, what your skill set is, what the marketplace is like, and how easy it would be for you to find a new job. So the people who didn’t really want to work there and who couldn’t do their jobs very well got off early with a larger package and an earlier start at finding a new job, and the people who really put in the time and effort and enjoyed being there are now getting packages that are not worth as much. It’s too bad, especially when you add to that the huge packages still being doled out for CEO’s and other execs.

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