A real case of the Mondays...

[jmdaniel]

So last Monday was a disaster on Wall Street, right? Biggest one day point drop in the Dow ever, correct? My employer decides to help me remember the day by calling me at 9:05am, (I work remote), and laying me off! Read "Laying me off" to mean "fired, but with a month's pay". Yay! "100% business related, not related to your job performance in any way." Hmmmm.... somehow, I think it would be better to have it related to job performance. That way, I would at least have some ownership in the results. Craziness...

:angry2:

 

[Bustanut joker]

An' I'm bettin' ya didn't get a "silver parachute" to help cushion your fall like the Big Wigs either... Prolly more like a Brown Hanky eh?

Sorry to hear of your misfortune JM. I might be in the same boat here shortly

:jester:

 

[Steve01]

Sorry to hear your bad news, but I was watching our local news and apparently 150,000 other Americans suffered the same fate last month?

 

[BikerGeek99]

That stinks.

Out of curiosity, is the month's pay severance? I am curious because there is always a chance that my employer could reorganize me to the curb and am curious to know if your former employer used "layoff" to avoid severance.

But that just means that there's a better job out there waiting!

Good luck on the search!

 

[FLHX]

Well look at the bright side. It may have been the biggest one day point drop but percentage wise (which is what really counts) It didn't even make the top TEN.

 

[ionbeam]

That stinks.
Out of curiosity, is the month's pay severance? I am curious because there is always a chance that my employer could reorganize me to the curb and am curious to know if your former employer used "layoff" to avoid severance.

But that just means that there's a better job out there waiting!

Good luck on the search!

How severance is handled depends on how slimy the HR department handles the ousting of the employees.

A true layoff is supposed to imply that there has been a change in the available work which requires an 'adjustment' to the work force. With a layoff there is supposed to be a chance that an employee could be recalled when available work goes up. Because there is a chance of an employee being recalled a true layoff generally will not offer a severance package.

In a RIF = Reduction In Force, the adjustment to the work force is final and this often comes with a severance package if the business offers one. A RIF is a one way out without hope of recall.

In all cases if the company has health benefits they have to offer extended health benefits either directly or as COBRA.

In the real world many businesses reduce the work force without consideration of how it is worded which may leave them open to litigation.

 

[jmdaniel]

Well, as an answer to all, (and thanks for letting me whine on your shoulders here), I am on Admin leave until 10/31. If I don't find a job internal to the company, (which will remain nameless), or with the company's owner, AT&T, I will be given one month severance, and 3 months of COBRA coverage. I highly doubt there will be anything internal to the company, I'm not sure how to apply for the internal transfer that an AT&T job would require, if there were one, (and neither is my HR contact), so it looks like I'm down the road. Kind of mixed feelings on the whole thing. The way it was handled kind of opened my eyes to the way the company, and my manager, deal with their "human resources". I'll be 48 in 6 days, so am not naive enough to not know what "Right To Work" means, but it gets a little personal when you are the one getting kicked in the nuts.

 

[jmdaniel]

Okay, good news today. I start with my new employer on 11/3, with a 20% raise. And, due to the severance pay, I will be drawing checks from my new employer and my old one for the entire month of November. I guess that was great news, not just good news! :yahoo:

Now, I have two weeks to mess around. Anyone up for a ride?

 

[NoCage]

Okay, good news today. I start with my new employer on 11/3, with a 20% raise. And, due to the severance pay, I will be drawing checks from my new employer and my old one for the entire month of November. I guess that was great news, not just good news! :yahoo:
Now, I have two weeks to mess around. Anyone up for a ride?

Good for you. That's kinda what I'm hoping for. We were bought out by a larger firm last May; and they don't need 2 network managers for North America. The good news is that they are paying me for a year to suck the knowledge out of my brain... with an ending bonus of around 7 to 8 months, including severance, transition bonus, leftover vacation, etc. I'll look for something else at the end of the transition, and get a nice windfall. Or... I'll ride around the country for a while and hang with as many of you reprobates as I can find.