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I don't think severance is normal or expected of any business teetering on insolvency.
by cloakandswagger 8y ago
I don't think severance is normal or expected of any business teetering on insolvency.
- ryandrake 8y agoIn my experience, severance (as part of your employment agreement) is not normal or expected for any job in the USA. I’ve been working for decades and have never seen even a hint of it in any employer’s benefits info. Severance is something only big shot executives get.
- hellogoodbyeeee 8y agoI got a severance package from a part time bank teller job after they closed the branch I worked at. I also got a severance package when a small business I worked at went under. I'd say severance packages are a lot more common than you think they are.
- tibbon 8y agoI've gotten severance (just like, 4 weeks or so?) from the last 3 or 4 companies I've worked for. Just as a datapoint.
- vkou 8y agoMy father has received severance - not once, but twice from Kodak Canada. The first time was during their bankruptcy, the second time was because they cost-optimized most of the senior people out of his project.
- grigjd3 8y agoSeverance is "keep your mouth shut" money. If the company is tanking, there's no reason for it.
- overgard 8y agoWell, in a cynical sense sure sometimes, but it's also the right thing to do
- KallDrexx 8y agoWhen the one game job i worked at laid everyone off and files for bankruptcy i got 6 weeks severance paid for by the government about two months later. Of course this was Australia where companies pay a per employee tax to support this. won't happen in the states.
- qubax 8y agoIt is normal and expected for the executives though. Somehow, even in the worst bankruptcies or closures, they always seem to end up with golden parachutes. Must be luck.