Any thoughts on what the typical AZ separation package consists of? I have been told several from BMS were not offered employment from AZ and I wanted to know what was offered.
It's the worst of any pharma company out there. If you sign the document it says six months before you can apply for another position. However, in invisible print it states that after five years they don't have to pay any pension. So, if you have any longevity with AZ you don't have a chance to return. This company is sick! Don't plan on any retire plan, it's a start for some but not a career.
Typical package for being laid off calls for min 6 weeks salary, health care for 6 months, then go on a Cobra plan. Additionally you get 2 weeks for every year of employment. You can't lose a vested pension unless your dismissal was practically criminal. However there have been a growing number of cases of reps retiring then learning of reduced payouts than was orig agreed to. AZ blames this problem on their 3rd party that processes retirement.
AZ severance package is a minimum of twelve weeks for every employee or two weeks for every year of service, whichever is greater. For instance, if you've been with the company for ten years and five days you would have eleven years of service--which would equal twenty-two weeks of severance not including any warn period.
What if they just want to fire you? I have been told AZ has offered packages to people to get them to leave.
12 weeks min. You may be able to negotiate 2 weeks for every year worked if you are a certain pay level. If you are a PSS w/ 13 or more years, you may be able to negotiate 1 week for every year. Now if it is a blatant policy violation, then you are SOL.
