Q: I was in the process of being displaced and then the company changed the long standing published severance policy it
impacts older workers most. I am 59 and have worked at the bank for 33 years. Under the previous policy I would be entitled to 16 months but under the new policy effective 4/1/17 that has been reduced to 12 months. We began discussing displacement in September 2016 and because my son was hospitalized for 45 days for a TBI from a motorcycle accident I was given to December to decide if I would move, accept a lower position or be displaced. The business unit has been accommodating but after we determined to go forward with displacement in December the company put displacements on hold. I just received my notice and it is under the new policy. Can they do that? I live in Florida, the bank is national and I work for the Atlanta office. My company continues to be under scrutiny of the OCC regulators.
A: The policy in affect when you are let go is the one that should apply under general contract principles but should consult with erisa lawyer
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