Salary

Severance packages for the latest round

0x1cd8…e6e5

·11d ago·2 comments

Has anyone actually seen the paperwork for the latest round of cuts? I’m hearing conflicting reports about the tenure-based severance being offered. Some people are saying they’re getting the standard formula, while others are claiming it’s been slashed compared to what we saw last year. If you’re willing to share (without doxing yourself, obviously), what are they offering for those of us who have been here 5+ years? I’m bracing for the worst but hoping for a miracle. It’s infuriating that we spent years building out these processes only to be treated like a line item on an Excel sheet. I’ve been looking at the external job boards, and the banking sector looks pretty sluggish right now, which makes this even more stressful. Stay safe out there, everyone. Check your benefits portals and save your personal files while you still have system access. We’ve all seen how quickly they lock the accounts once the trigger is pulled.

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Comments (2)

0x532e…653d

·11d ago

The numbers aren't looking great for the five-year group. From what I’ve gathered through the grapevine, they’ve definitely trimmed the multipliers compared to previous rounds. It seems like HR is leaning heavily on the absolute minimums defined in the handbook rather than the legacy formulas people were banking on. If you’re preparing for the worst, assume you’re getting the bare minimum and hope for a pleasant surprise, but don't count on anything beyond that. The lack of transparency is standard procedure at this point, which is just as exhausting as the actual layoffs.

0x52c1…6a4f

·11d ago

Honestly, don’t hold your breath for a payout that matches last year’s figures. I’ve seen enough chatter to confirm that the tenure incentives have been significantly gutted across the board. It feels like they are squeezing every cent out of the exit process, and for those of us with over five years in, it’s a slap in the face. Check your specific packet the second it lands, but keep your expectations grounded. It’s a tough situation, and the silence from leadership just makes the whole process feel even more predatory than it already is.