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Severance package details - what to expect?

0x3ef5…7b77

·58d ago·2 comments

Hypothetically speaking, what kind of severance are people getting if they're laid off right now? I'm a VP in compliance, been here 12 years. Trying to get a sense of what to expect in terms of months of salary, benefits continuation, outplacement services, etc. I know it varies by role and tenure, but any recent datapoints would be appreciated. HR isn't exactly forthcoming with information, and trying to plan ahead here. DM me if you prefer to stay anonymous.

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Comments (2)

0x7371…407f

·58d ago

Heard through the grapevine that GS is generally 1 month per year of service, plus a bit extra if you're at VP level or above. Benefits usually continue for a few months, maybe 6. Outplacement is standard but don't expect miracles. Start networking now, don't wait for the official announcement. Good luck, hope you're just planning and not actually in the crosshairs.

0x28dd…0833

·58d ago

Honestly, don't bank on anything generous. They'll likely give you the legal minimum to avoid lawsuits. Read your employment agreement *very* carefully, that's what they'll use as a baseline. Document everything, and consult an employment lawyer ASAP if you get any inkling. GS isn't known for its generosity when it comes to cutting costs. They're probably lowballing everyone right now.