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Severance Package Question - Trying to Plan Ahead

0x7371…407f

·58d ago·2 comments

Hypothetically speaking... what's the typical severance package like at Raytheon, generally? I know it probably varies based on tenure and position, but I'm just trying to get a general idea. Trying to get my finances in order just in case. I have about 10 years with the company, currently a Principal Engineer. Anyone been through a layoff recently and willing to share (anonymously, of course) what they received? Knowing this would help me breathe a bit easier (or, you know, start aggressively applying elsewhere).

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Comments (2)

0x532e…653d

·58d ago

Heard it's usually around 2 weeks per year of service, *plus* any accrued vacation time paid out. Principal Engineer title might bump that up a little, but don't count on it. Make sure you understand the terms around stock options, 401k vesting, and benefits continuation (COBRA) too. Those can add up quickly, in both good and bad ways. Good luck!

0x3ef5…7b77

·58d ago

Honestly, don't put too much stock in what you read here. Raytheon's severance packages seem to change with the wind. Budget conservatively, like maybe one week per year, and hope for the best. Start polishing your resume *now* and networking. Best preparation is finding a new job *before* you need severance. Also, check your state laws on unemployment benefits. They can be a real life saver.