My peer was let go last year, and they received their full benefit package for a year, two weeks pay for each year of service (he had 28 years of service, so 14 months pay) and a “lump sum” of $15,000. He was in management, but everyone who was laid off got the same deal which included many individual contributors.
From what I have seen and heard there are many American companies that do this, the problem is that there is no law or other regulation that says they must. It should be this way for everyone, no matter who your employer is.
My peer was let go last year, and they received their full benefit package for a year, two weeks pay for each year of service (he had 28 years of service, so 14 months pay) and a “lump sum” of $15,000. He was in management, but everyone who was laid off got the same deal which included many individual contributors.
From what I have seen and heard there are many American companies that do this, the problem is that there is no law or other regulation that says they must. It should be this way for everyone, no matter who your employer is.
There aren’t. Unless it’s a highly organized layoff involving unions, they typically just fire people now because layoffs have rules.