That's a nice severance package.
Just for comparison: We had RIFs at work last week - max package was 26 weeks.
They continued employee rate for benefits for the time indicated by severance - but severance is paid out lump sum. (This was just reinstated this round of layoffs... the previous layoff - to get the reduced price benefits, you had to string out the severance payments.)
I was hoping to be on the list. Our new corporate overlords are obligated to honor the severance plan of our old corporate overlords for 1 year from our acquisition. Their severance plan is rumored to be even crappier... maxing out at 6 weeks MAX. I hope to be included in the next round or two.
I've got a bigger nest egg, and some rental income... but I'm younger than you (turn 52 in a few months). But like you, I'm tired of what I do.
Just for comparison: We had RIFs at work last week - max package was 26 weeks.
They continued employee rate for benefits for the time indicated by severance - but severance is paid out lump sum. (This was just reinstated this round of layoffs... the previous layoff - to get the reduced price benefits, you had to string out the severance payments.)
I was hoping to be on the list. Our new corporate overlords are obligated to honor the severance plan of our old corporate overlords for 1 year from our acquisition. Their severance plan is rumored to be even crappier... maxing out at 6 weeks MAX. I hope to be included in the next round or two.
I've got a bigger nest egg, and some rental income... but I'm younger than you (turn 52 in a few months). But like you, I'm tired of what I do.
