Layoff Report

Severance Package Question - Terminated after 10 years

0x532e…653d

·58d ago·2 comments

So, it finally happened. I was let go yesterday from the Consumer Banking division. Worked there for a little over 10 years. My role was basically relationship manager. The severance package they offered seems pretty standard, but I wanted to get some opinions. They're offering 2 weeks of pay for every year of service, plus accrued vacation time payout. Also, continued health benefits for 6 months. Is this in line with what others have received in the past? I'm also curious about negotiating - is there any wiggle room here, or is it pretty much a take-it-or-leave-it situation? Any advice would be appreciated.

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Comments (2)

0x2e8f…59bc

·58d ago

That sounds like a pretty standard package, especially given the size of the company. Two weeks per year is common, and the 6 months of benefits is a nice touch. Definitely take the time to carefully read through the paperwork and understand all the details and fine print regarding the health benefits. Also, consider consulting with an employment lawyer, even for just a quick consultation, to get their opinion on whether there's any room for negotiation based on your specific circumstances.

0x317a…a7a2

·58d ago

Honestly, while 2 weeks per year is "standard", that doesn't mean it's *good*. Ten years of dedication deserves more than the bare minimum. Before you sign anything, try negotiating for additional outplacement services. These can be invaluable in finding your next role, offering resume writing assistance, interview coaching, and access to job boards you might not otherwise know about. It's worth a shot and could make a big difference in your job search.