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justin · 10-24-2007, 09:47 AM

DW used to do HR and process termination packages at Nortel right after the dot.com bust when nortel was laying off tens of thousands of folks. The standard package there was something like 1 month for every year of service. So the old timers (my family knew a few) would get 2+ years of severance pay. Not sure if this was a "resign and get 2 years pay or we lay you off and you get nothing but meager state unemployment bennies for 6 months". They would even give folks their regular raises/bonuses ahead of time prior to termination in order to make their terminal salary as high as possible for the 2 years of severance pay.

10-24-2007, 09:47 AM	#9
justin Thinks s/he gets paid by the post Join Date: Jun 2005 Posts: 4,009	DW used to do HR and process termination packages at Nortel right after the dot.com bust when nortel was laying off tens of thousands of folks. The standard package there was something like 1 month for every year of service. So the old timers (my family knew a few) would get 2+ years of severance pay. Not sure if this was a "resign and get 2 years pay or we lay you off and you get nothing but meager state unemployment bennies for 6 months". They would even give folks their regular raises/bonuses ahead of time prior to termination in order to make their terminal salary as high as possible for the 2 years of severance pay.