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To anyone who has been displaced at AZ (ever)

anonymous

Guest
Please, realistic answers here. One of the "chosen" 500 here. Feb 8 approaching soon.
Question: has anyone ever had to question HR/payroll with regards to ensuring all of severance was paid, IE...did anyone have to go back and calculate unpaid vacation, make sure all owed bonus is there, etc?
I have been told by at least one person in the past that final severance was incorrect, and it had to be addressed.
Please, no smart @$$ responses, as this effects real people who are just trying to support our families.
 

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I have also heard stories of severance miscalculations but, if they happened at all, they seem to have all been with reps that were let go for "performance" i.e. mutual consent agreements where there is no WARN notice and severance is half of what it is for a structural downsizing. I think it less likely to happen here where there are so many people going through this at once and the company had alot of time and alot of people working on this to prepare everyone's packets properly.
 




You definitely should double check to see that you are getting your vacation pay. Once you get your final check, take a look at the hours you have received payment for and give HR a call if your numbers do not match. It shouldn't take you long to calculate that.
 




A word of caution. Years ago when AZ was still offering self-identification during layoffs, I know several people that chose the lump sum on their pension payout that questioned the number. Mercer recalculated and found that a mistake WAS MADE and cut them a check. I can assure you it was done deliberately and had they not spoke up, they would have been out thousands of dollars!
 




If you only want AZ then don't read this but my experience having worked a long career through many mass firings, layoffs, downsizes, rightsizings, restructures and whatever next they want to call it ease "their little brains as they let people go" is:
  • Refer to all current online data you "had access too" and any other documentation or calculations to cross check each. Hopefully you forwarded those as possible or printed out such.
    • precise tenure under that particular entity
    • vacation calculation down to the precise units they should 'credit' and pay out
    • don't know if you have a traditional pension with lump sum but that absolutely requires current calculations by whomever manages such, like Fidelity. I've had an actuary cross check such in one circumstance.
    • All assets should be whole (e.g. Co. 401K, etc.) and I'd transfer to an IRA asap with a trusted financial entity. Certainly don't make a move that could expose you to tax penalty.
    • Basically, as you are, anything of value cross check for your benefit. If needed ask someone you trust or your accountant to cross check.
I think it is very intelligent you are not trusting your previous employer. They do make mistakes. In one case, they were going to require I return X months of severance in gross dollars as they hired me back into management in another division. I said, I will not do that. I will pay back the net (post tax) amount given tax liabilities. They said, "Geez, your right.". So don't think their brilliant. And today, today it's full of incompetent people in places that can cost you.

A lot of people don't know it, but these large companies can be the worse in paying their own bills, completely, on time. AZ may be great. Then good for you. I am confident they will make you whole if there is any err. (Now, if you worked for CVS Health, forget it. I can tell you horror stories as a pharmacist. Yes, I will tell the world. CVS Health is disgusting in it's treatment of the American worker. I digress.)

On a personal note, I am praying for you and your family right now. I know it can be difficult. I had to follow orders and let many good people go over the years. And, being 9 -1, I was right there with you at one juncture. You will survive and I hope thrive.

Whatever you have faith in, start with having faith in you. I am sure you do. God's speed