I thought I would throw this question out there and see if anyone has some valuable information to add... If you receive a particular date in which you will receive a severance package, can this be moved to an earlier date to accommodate the start of a new employment somewhere else? Reason I am asking if that I have been laid off, I am currently awaiting the severance package and have begun to have interviews. Thus, I would not like to forfeit this payment at all. Thanks!
We still don’t have a precise date; End of February is likely, but this may change. We have yet to receive our package.
If you are in NJ and part of a workforce reduction there is no requirement for you to tell your employer when you get a new job. You can even double dip without compromising your severance. It's a "don't ask, don't tell" situation.
It is irrelevant when you start a new job, as long as it is after your "last day". Bayer will afford you the full severance package. They cannot withhold it if you start a new job. I was laid off in November and one of our people started a new job the following week after Bedard gave us the good news. He is receiving his full package. Consult a tax guy per taking a full payout or annuitized payments.
You are likely covered by the WARN Act which is a federal law covering displaced workers that requires a 60 day notice of termination. There is "working" WARN and "non-working" WARN. Working means your employer wants you working right up to your last day. In that case you cannot start working at a new employer until your last day. Non-working means you're free from any work obligation so you could start with your new employer on day 1 of the 60 days, and receive pay from both companies. Just don't tell your old employer. While your old employer would like to know so they can strike you from payroll, I don't believe you are legally bound to notify them. That's the don't ask, don't tell situation the prior poster referred to.
When the elimination the Neuroscience Division, they did not give 60 days. It was 2 weeks. HR said that this situation did not trigger the WARN.
Does anybody remember the cardiopulmonary debacle? They wouldn’t tell the reps that they were dissolving the business unit so they didn’t have to file the Warn Act. The management team had the tell the reps and encourage them them to look for new jobs!
The reason for the short notice (2 weeks) is that there is a minimum number of layoffs whereby the employer is required to give the 60 days. I believe the number is around 80-100 people. In the neuroscience arena, we fell way under the threshold, ergo the 2-week notice.
