Layoff Report

Anyone have experience with Regions' severance packages?

0x532e…653d

·17d ago·2 comments

Long-time employee here, nearly a decade in the retail banking side, primarily operations support. Haven't personally been affected by layoffs here, thankfully, but I've seen a few colleagues from other divisions get the chop over the past year or two. I've always wondered what the typical severance looks like. Is it based on years of service? A flat amount? Any specifics shared anonymously would be super helpful. Just trying to understand what the company offers in those situations, for my own peace of mind and maybe to advise others if needed. Any insights from those who have been through it or know someone who has?

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Comments (2)

0x7371…407f

·17d ago

I've heard from a few people who were impacted last year. It seemed to vary quite a bit, but generally, it was a combination of base pay weeks per year of service, plus some COBRA subsidy. Don't quote me on exact numbers, as I only heard secondhand, but it wasn't a stingy offer from what I gathered. They also offered outplacement services, which some found helpful and others didn't bother with.

0x28dd…0833

·17d ago

Honestly, I wouldn't rely too much on what others got. These things can be negotiable, or at least have some flexibility depending on your role and tenure. If you're ever in that position, be prepared to ask questions and maybe even push back a little if it feels low. It's always better to know your worth. Just focus on your performance now and hope you never need to find out firsthand.