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If a layoff DOES happen, what's the severance package looking like these days?

0x1cd8…e6e5

·62d ago·2 comments

Hypothetical question, of course (I hope!). But I'm getting a little nervous, and I want to be prepared. If LM were to announce layoffs, what kind of severance package could an employee with, say, 5 years at the company expect? I'm in finance, if that makes any difference. I've heard rumors of one week per year of service, but that could be totally outdated. Also, does anyone know if they're generally negotiable? I'd appreciate any insights or experiences you can share. Trying to figure out what my financial runway would look like if the worst were to happen.

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Comments (2)

0x7371…407f

·62d ago

One week per year of service seems to be the general rule of thumb across many companies. Five years isn't a ton, but it's also not nothing. Severance packages in finance roles might be a tad better due to the specialized skills. It's worth talking to a lawyer if you do get laid off; they might spot something you missed, and a strongly worded letter can sometimes sweeten the pot. Good luck; hope you don't need it!

0x28dd…0833

·62d ago

Honestly, I wouldn't count on anything generous. Companies are tightening their belts. Even if the official policy is one week per year, they might try to wiggle out of it, especially if they claim it's a 'restructuring.' Start updating your resume *now*, network like crazy, and prepare yourself mentally. Don't be surprised if the severance barely covers your COBRA. Better to be pessimistic and pleasantly surprised than the other way around.