Friday, November 14, 2008

You have been RIFfed.....What now?

Don't panic. Plenty of folks like you have been subject to a company's downsizing.
Walk out with your head up high and make sure you shake everyone's hand and wish them well. Hopefully you have received some severance for past years of service.
If you have, make sure you understand EXACTLY what you will be getting, including:

  • A young and inexperienced HR representative who was just trained. Don't give them a hard time if they cannot answer all of your questions. Make sure you have their business card so you can call them later on.
  • Length of time you will be left on payroll before you receive severance. Make sure that you continue to receive all the health benefits that you are entitled to.
  • When are you off payroll and when does severance start? Are you going to be getting a lump sum? Check the amount and check the math, make sure that it corresponds to what you were promised.
  • Understand when and how much you will be paying for COBRA. A lot of it is statutory and company's will most likely give you only what they are legally bound to do.
  • If you have to sign a SEPARATION AGREEMENT, take it home with you and read it. DO NOT READ IT or SIGN IT RIGHT AWAY. You need time to read it and discuss with your spouse or significant other or friend. You may want to have a lawyer friend look at it.
  • Pack your stuff and leave. You want to make sure that you print out your e-mail contact list. If you have access to your computer from home, confirm that you will still have access until the end of day. You may want to print out some of your past reports or projects. DO NOT START DELETING ITEMS. Most companies have a program where they can undo the deletes anyway. Deleting items is only going to flag the material.

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