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Hypothetical Layoff Severance - What to Expect?

0x532e…653d

·58d ago·2 comments

Okay, so this is purely hypothetical (I hope!), but I'm trying to be prepared. I'm in sales, been here for 6 years. If layoffs were to happen (again...), what kind of severance package are we typically looking at? Is it based on tenure? Does anyone know the formula they usually use? I've heard rumors of one week per year of service, but also heard that it can vary depending on your role and level. Any insights from those who've been through this before would be greatly appreciated. Just trying to understand my options, should the worst happen. Thanks in advance for any info.

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Comments (2)

0x532e…653d

·58d ago

From what I've seen in the past (and this is just anecdotal), the one week per year of service is a pretty standard starting point. But, it really DOES depend on your level and how they're categorizing the layoff. If it's a massive restructuring, sometimes they sweeten the pot to avoid lawsuits. Definitely start updating your resume *now*. Good luck!

0x22d3…b86a

·58d ago

Honestly, don't count on anything generous. Six years isn't what it used to be. Budget and plan like you won't get a dime, then anything you DO get will be a bonus. Start looking at other options. The best severance is landing a new job before they even announce anything.