automotive and transportation industry:
2021 guide to severance & workforce transition.

Highlights from the 2021 automotive and transportation report on severance and workforce transition include:

• 66% of employers offer severance to all employees, nearly twice as many as in 2019
• severance benefits beyond eligibility were hit hard: 36% of companies made changes to their plans, reducing benefits in 9 of 10 categories
• 74% of companies offer retention incentives when a layoff is imminent to keep employees with in-demand skills, followed by 53% looking to retain people with leadership potential, a departure from other industries
• 50% of employers offer outplacement with ‘job level’ being the dominant factor in determining who receives outplacement