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Is 1 year pay severance package for 35 year employee fair?
Posted on 5/19/15 at 4:25 pm
Posted on 5/19/15 at 4:25 pm
Their position is being eliminated their option is to step down to lower paid position or leave and take severance.
I don't know where they are as far as retirement planning, but I'd probably take it
I don't know where they are as far as retirement planning, but I'd probably take it
12
Posted on 5/19/15 at 4:27 pm to LSU6262
LOL. Fair...you private sector people and your severance make me laugh. Try working in govt/nonprofit/public sector: no severance. Just a handshake and a pat on the back and a walk to the door.
Posted on 5/19/15 at 4:31 pm to LSU6262
There is no such thing as fair.
Posted on 5/19/15 at 4:34 pm to LSU6262
How old is this person at 35 years in the business out of curiosity?
Lower paid position = market adjustment. If the position is being eliminated then that persons value must have been riding on it and they've depreciated over the years.
Back to your original question; yes it's fair. It does suck...but it's fair.
Lower paid position = market adjustment. If the position is being eliminated then that persons value must have been riding on it and they've depreciated over the years.
Back to your original question; yes it's fair. It does suck...but it's fair.
Posted on 5/19/15 at 4:35 pm to hungryone
No one forced you to work for a government/nonprofit
Posted on 5/19/15 at 4:41 pm to iAmBatman
quote:
No one forced you to work for a government/nonprofit
Is he talking about the government jobs that keep ballooning in volume and are almost impossible to get fired from in the first place? No shite there isn't severence.
Posted on 5/19/15 at 4:43 pm to Teddy Ruxpin
My boss told me I would have to do something illegal or stop showing up to get fired 
Posted on 5/19/15 at 4:44 pm to UMRealist
quote:
My boss told me I would have to do something illegal or stop showing up to get fired
I've been around government employment my entire life. None of those folks have room to complain about much.
Good to see you know what's up
This post was edited on 5/19/15 at 4:45 pm
Posted on 5/19/15 at 4:48 pm to Teddy Ruxpin
Yeah I always laugh when my co-workers complain. It's such an easy lifestyle. So much vacation time. So much medical leave. Hell I make back what I pay in taxes every month on just my expense check (tax free ftw).
I say all that but the work really does suck and the pay sucks worse. I'm trying to get out.
I say all that but the work really does suck and the pay sucks worse. I'm trying to get out.
Posted on 5/19/15 at 4:50 pm to hungryone
LOL "fair"?
The required productivity of a government worker is about 50% of that which would be required in the private sector and you still get bloated DB retirement plans. You also have to murder someone to get fired.
People with low stress jobs that complain about the compensation of people with high stress jobs are the worst. Take a job that moves your hairline back a quarter inch a year and see if you go crying back to mommy.
The required productivity of a government worker is about 50% of that which would be required in the private sector and you still get bloated DB retirement plans. You also have to murder someone to get fired.
People with low stress jobs that complain about the compensation of people with high stress jobs are the worst. Take a job that moves your hairline back a quarter inch a year and see if you go crying back to mommy.
Posted on 5/19/15 at 4:51 pm to LSU6262
OP:
I think the rule of thumb is 2 weeks per year of service. I think capping it at 1 year is fair.
I think the rule of thumb is 2 weeks per year of service. I think capping it at 1 year is fair.
Posted on 5/19/15 at 4:51 pm to UMRealist
i had a friend that just got fired from a public sector job. He feels like shite.
Posted on 5/19/15 at 5:17 pm to LSU6262
I think paying someone a whole year pay when their position no longer of any value to the company is more than fair. The question is what is the better financial decision for the employee. I would expect one year pay and taking a job elsewhere would probably work out way better than taking a pay cut and not getting the huge chunk of "free" money.
Posted on 5/19/15 at 5:29 pm to eelsuee
If my company offered me a 1 year severance package, I would kiss my boss on the face.
Posted on 5/19/15 at 5:43 pm to TheHiddenFlask
given I only hae 3 years with my company.. I would definitely kiss him
Posted on 5/19/15 at 5:58 pm to LSU6262
A previous employer offered one month of base salary per year of service, for those who stayed until their end date (it was a facility closing). I left as soon as I got word that the division was being sold to a private equity group - about a year before the buyout and subsequent closing announcement.
As for "fair", as has been said by several others here, there is no such concept in the private sector.
As for "fair", as has been said by several others here, there is no such concept in the private sector.
Posted on 5/19/15 at 10:19 pm to Jag_Warrior
I've seen the 2 weeks per service year before. 1 year pay seems "fair", for what that's worth.
If this employee is eligible for some other time based benefits upon retirement age (pension, insurance, etc), it may very well be better to take the cut.
For example, at my previous job, if you were terminated prior to age 55, your pension benefit was cut in half. At age 55 (and 15 years of service), you could "retire" and get the larger pension and be eligible for retirement benefits (medical, dental, etc).
If this employee is eligible for some other time based benefits upon retirement age (pension, insurance, etc), it may very well be better to take the cut.
For example, at my previous job, if you were terminated prior to age 55, your pension benefit was cut in half. At age 55 (and 15 years of service), you could "retire" and get the larger pension and be eligible for retirement benefits (medical, dental, etc).
Posted on 5/20/15 at 6:43 am to UMRealist
Jeez. I work for the government, but our section will boot your arse out if you can't handle it
Posted on 5/20/15 at 9:19 am to Jcorye1
The 'Sip ftw
Posted on 5/20/15 at 9:21 am to Jcorye1
I've never had a gov't job in my life (all my govt service has been unpaid). As a career nonprofit person, severance is not part of this landscape.
And to the poster who thinks that high stress equals high pay, you've never worked in a social services setting (like a counseling center for abused children, halfway house for the mentally ill, or homeless shelter), as a public school teacher in an underperforming/underfunded/violent neighborhood school....beaucoup jobs in the USA are very high stress and relatively low paying. Thank god for the dedicated people who show up anyway and (answer the suicide hotline, teach impoverished children to read, clean the bedsores of the elderly who have no family support...)
And to the poster who thinks that high stress equals high pay, you've never worked in a social services setting (like a counseling center for abused children, halfway house for the mentally ill, or homeless shelter), as a public school teacher in an underperforming/underfunded/violent neighborhood school....beaucoup jobs in the USA are very high stress and relatively low paying. Thank god for the dedicated people who show up anyway and (answer the suicide hotline, teach impoverished children to read, clean the bedsores of the elderly who have no family support...)
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