2023 Redundancy Packages
Hi all,
Hope you're heading towards a great year ahead, unfortunately I was let go at my firm recently.
All in all not too bad for myself as I received 6 months worth of pay at a tier 3 international bank in London.
In case you're fired, what does your package look like?
you got a better deal than most U.S folk. Goldman Sucks only gave out 1 month of actual severance, plus 3 month additional pay required by NY state law. The additional pay will stop once you start a new job.
I’ve heard 3-4 months of pay at my firm (BB) but dont think because 3 months was required by NY employment law. NY doesnt require 3 months pay as severance because we are at will state
the three month pay is not severance, it's compliance to NY WARN law.
NY WARN law requires 90 day notice period for layoffs >250 people per job site. The most recent round of cut exceeded 250 at 200 West, so they have to play by the books. The actual severance is only 1 month.
Did not know that - thanks
So don’t correct someone if you don’t know the facts… must be MBA assoc…
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