I can tell you about the UK vs the US for my company.
We have offices in the US and the UK. We had layoffs last year. In the US, we are pretty fair for the US, told people they were getting laid off, but they had 30 more days before their last day, then they got a week of pay severance for every year of service. We offered training, resume help, job placement help, and some extension of health care benefits. All around, pretty good for the US.
The UK. Well, first we had to inform the unions and the government we intended to lay people off, then there's an 8 month waiting period where we had to jump through hoops, help these people as much as possible, and all around prove to people that we really needed to cut staff. And those people got a bigger severance and then a more robust system from the government to provide income until they can find something else.
In MI, the max UE per week is $362 before taxes. And normally it's available only for 6 months. The federal bonus we';ve seen the last year is a clear message that we don't do enough for laid off workers. $362 is not enough to survive for most families, it barely covers COBRA or a mortgage payment. Getting laid off should not mean financial ruin like it does in the US for too many.
And white collar workers right now are finding out the hard way, you're at risk of ruin if you lose your job. Doesn't matter if you've done everything right, avoided debt, have ample savings, it can all be gone in a short amount of time. I'm watching friends see everything they've worked their whole careers for go down the drain. Savings burned through, savings that took decades to build up. 401Ks accessed, and then accessed again and again. 20 year careers in good jobs build a cushion that provides security, that is gone for many. Everything they thought they were working for can be gone in a year. Should not be this way.
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