Severance package

Discussion in 'Bayer' started by anonymous, Feb 12, 2019 at 4:31 PM.

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  1. anonymous

    anonymous Guest

    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!
     
  2. anonymous

    anonymous Guest

    What is your last day of employment?
     
  3. anonymous

    anonymous Guest

    We still don’t have a precise date; End of February is likely, but this may change. We have yet to receive our package.
     
  4. anonymous

    anonymous Guest

    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.
     
  5. anonymous

    anonymous Guest

    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.
     
  6. anonymous

    anonymous Guest

    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.
     
  7. anonymous

    anonymous Guest

    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.
     



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