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Someone works at or with PwC Experience Center?
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Has anyone left PwC while they still had an outstanding Educational Support Program repayment agreement? What is the repayment process like? Am I required to pay back the amount in full the day I leave the firm or is there the ability to do a repayment agreement? I’m looking at new opportunities and would like to have my new firm take on the amount of the tuition agreement ($14,000) but don’t know how much that might limit my options.
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Any advice for your LAST day in office?
Who’s negotiated severance? Any tips?
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Chief
Sorry, OP.
It doesn’t matter what the package says. These are written by lawyers to be blanket clauses and worded for a wide breadth of interpretation. This is ONLY formality.
There’s also a clause that says you can’t work for the same holding company for a year after you’re laid off which is garbage. Considering 4 holding companies own every agency do you know what the class action lawsuit would be if they tried enforcing it?
I’ve been laid off by Omincom and then started freelancing at another Omnicom 4 days later.
As long as you’re not CURRENTLY employed by 2 at the same time (your not, you were laid off) you will not have a problem.
Do not ask HR questions or they will be obligated to turn this process into a bigger thing. Just sign it. Collect your severance, and move on.
Good luck w/ your next move!
Chief
Glad to hear I could put your mind at ease. Keep your head up! Now start collecting unemployment too.
Caution: if you were laid off from a holding company owned agency, and then work for another agency owned by the same holding company, they will generally subtract what you earn from your severance. At least that’s how it works at Publicis and Omnicom. Otherwise, that’s your money and they can’t touch it.
WPP is the same.
I’m sure they gave you something to sign but I’ve had a lot of packages and i could always start a new job tomorrow and pocket the cash.
Rising Star
Thanks for the info.
My packet hasn’t come in yet. So I asked FB as I’m just trying to gauge my next moves.
Severance is different than EI…it’s a payment from the company to help soften the blow and support your transition as you look for something else. If you happen to get a job quickly, that’s a bonus for you. It would be outside standard practice for a company to make your severance contingent on the timing of your next engagement. It’s really none of their business. Good luck!!
BBDO1 same outcome, more cynical view. Companies don’t actually enjoy laying people off and severance is a mutually beneficial arrangement in a tough situation.
Agree BBDO 1. Same for IPG agencies. No double dipping allowed.
That should be written in your agreement. For example I was laid off recently and in my severance agreement it said I'd have to forfeit severance if I took another job in the holding company during the "period" of severance (eg I got paid out for three months), but if I got another job somewhere else I don't have to give any back
Depending on where you live, you can start unemployment insurance as well without the severance counting against it.