5 ms·
I guess it depends on the company. My wife's company's standard buyout is 2 weeks per year worked (she works in travel). 1 week of severance per year worked is
by wonderwonder 7y ago
I guess it depends on the company. My wife's company's standard buyout is 2 weeks per year worked (she works in travel). 1 week of severance per year worked is not great. In the current economic environment I would think people would be very hesitant to take it. Lets say I have been there 10 years, means I only get 10 weeks severance. I still need to find a new job and there are tens of thousands of other laid off engineers competing for jobs and those jobs are very limited. Odds of finding a new one before severance runs out is low.
If you don't take it you run the very real risk of getting cut with nothing.
Unfortunate situation all around.
- quaquaqua1 7y agoIt would be very unfair for Boeing to offer 1 week per year served if you leave voluntarily, and then revoke that payment if they forcibly lay you off. At $OLD_TECH_CORPORATION_MAKING_DATABASES, we received one week per year served after being forced out, plus an additional "free month" of pay as well.
- wonderwonder 7y agosure, but the reality is that in the beginning of layoffs they will have larger reserves available for severance. As economic hardships mount those reserves will dwindle. Companies pretty much stopped caring about fair a long time ago unless you are lucky enough to have reached the C-Suite. Some companies alter the severance package based on nothing but how much your VP level officer likes you.
- quaquaqua1 7y agoI completely agree, that is totally a nasty risk vector! Fortunately I am a Boeing shareholder at $139.xx per share, so any measure to cut costs and reduce bureaucracy is welcome in my book. What a world!
- marcinzm 7y agoCompanies do not care about "fair" unless it provides them an economic benefit or is contractually required.