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RJC 12/4/2012 | 10:01:20 PM
re: Got Severance? Count Your Blessings The article states:
The bottom line: Even if some management severance packages seem lopsided when compared to the rank and file, the harsh reality of large layoffs deems that any amount of warning or severance could and should be counted as a blessing.

Let's be honest here folks, each week that I still have a job is counted as a blessing anymore!
The smaller the company, the less likely that you'll get layoff bennies, not because small companies are mean, but because of simple math. The reason your company is letting folks go is to cut costs. Severence packages cost money, and the for the small guys, that's a significant percentage of the cash in the bank. If they could afford to pay out 6 months of salary in the form of severence, they'd just fire you 6 months later and get that much more work out of you.
dodo 12/4/2012 | 10:01:18 PM
re: Got Severance? Count Your Blessings "Nortel's typical severance package includes 60 days notice plus four weeks of pay and an additional week of pay per each year of service, according to a source close to the company. It also provides healthcare coverage for the entire severance period, the source says."

NOPE, we were covered ONLY during the 60 days notice

Unfocused 12/4/2012 | 10:01:07 PM
re: Got Severance? Count Your Blessings
"NOPE, we were covered ONLY during the 60 days notice"

I was covered through notice and severance. You could even elect an extra month of health beyond that (and why not?).
Besides NT provides consultancy services after you are laid off.
hitekeng 12/4/2012 | 10:01:03 PM
re: Got Severance? Count Your Blessings Nortel's health coverage is provided for the length of severance in the US and only for the 60 days notice in Canada (given that all Canadian provinces already offer varying degrees of coverage which is otherwise unavailable in the US). Severance pay is also more generous in Canada as well (up to a whole year salary) for all levels of employees with over 20 years of service and not only senior management.
dodo 12/4/2012 | 10:01:01 PM
re: Got Severance? Count Your Blessings Thanks hitekeng
Kevin Mitchell 12/4/2012 | 10:00:59 PM
re: Got Severance? Count Your Blessings Cisco has certainly had more than one round of lay-offs, or it was one long round. They misled employees, like most companies do when downsizing, saying that this "one round" (was all that was necessary in Spring of 2001 and then made further employee reducations a few months later in August.

This comes from the same company whose CEO said in December of 2000 that the then lethargic telecom market is an opportunity for Cisco and they can still grow at 50% per year. Oh, and voice is now free and the RBOCs are dead, too. The bold-faced lies of executives make me ill.

I am not and never was a Cisco employee.
Geeta 12/4/2012 | 10:00:19 PM
re: Got Severance? Count Your Blessings
Does any one know of Tellabs severance policies?

gea 12/4/2012 | 10:00:16 PM
re: Got Severance? Count Your Blessings Well, the full severance package policy is complex, but I can tell you that we were informed of the closures back in April, I got released by late May, paid full salary and technically "employed" until June 21st, and will be riding the severance train (full salary) for about 8 weeks.

Which has been SWEET...I only joined Tellabs in January, but they "vested" the severance package for a full year (giving me 4 weeks), and then the additional 4 weeks due to provisions in the WARN act (which state the working for 15 days after the notice entitles me to an aditional 4 weeks).

Hey--if I didn't already have a job lined up, I'd be tempted to try to get into Lucent or somewhere and get laid off by another big company. I could surf the wave of layoffs for another year or two, I figure!
theanswer 12/4/2012 | 10:00:04 PM
re: Got Severance? Count Your Blessings White Rock has made similar statements. They have been cutting, firing, and laying off for over a year. Seems like the cuts are bound to come every 90 days.
Belzebutt 12/4/2012 | 9:59:36 PM
re: Got Severance? Count Your Blessings Voice IS FREE!

If voice is free, why is it the only thing generating revenue for carriers?
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