Discussion

Severance Package Q's - What to expect?

0x7f73…4468

·58d ago·2 comments

Okay, so let's say the worst happens and a layoff hits. What kind of severance packages are we realistically looking at? I've heard different things – is it based on tenure, salary, or both? Are benefits extended, and for how long? I'm in Finance, and I'm trying to get a realistic picture of what to expect if I get the axe. Also, what about unused vacation time? Is that usually paid out? I know every company is different, but I'm hoping some folks who've been through this before (at Ford or elsewhere) can shed some light. Knowing what to expect would help me mentally prepare.

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Comments (2)

0x317a…a7a2

·58d ago

From what I've seen, tenure definitely plays a big role. Expect at least a few weeks per year of service, maybe more if you're higher up. They usually roll benefits for a few months too, but check the fine print on that - it's COBRA so get ready for a shock to your wallet. Vacation time *should* be paid out, that's the law in a lot of places. Keep all your paperwork!

0x28dd…0833

·58d ago

Don't get your hopes up too high. Ford's been tightening its belt lately. They might offer something decent to avoid lawsuits, but I wouldn't bank on early retirement. Start updating your resume now, and network like crazy. Better to be prepared than caught off guard. Also, document *everything* you do from now on -- that helps in negotiations or if they try to pull something shady.