Severance Pay

[anonymous]

How much severance do you get for 10 to 12 years of service?

 

[anonymous]

Let's roll out the last formula used for cardio care. Fuck that was a long time ago

full vacation, plus sick days - no matter how many you have used. For each year of service you received 1 week. For each year you are over 40 yo, you get a half week.

Add it all up - those are the weeks of continuation. If there is a WARN, then the clock starts w 60 days + the result of the above formula. WARNs are announced and very formal.

Of course - all that can change and probably will. AbbV is generous.

 

[anonymous]

AbbVie is not generous. Although companies are not required to offer severance, most will give 1 to 4 weeks of pay per year served. 1 week is the minimum. I know of other companies in the big biotech/pharma space that have treated employees much better.

 

[anonymous]

Many who were let go from Pfizer/Pharmacia back in 1996 were given a full years salary! Not bad at all!