Don't know what the policy is now, but when I was laid off in 2011, I got 2 weeks severance for every full year of service. In addition, depending on your job function and department, if you are part of a WARN layoff (you will know because you have to sign a WARN notification) of more than 50 in one location, there is a 60 day notice period and some are asked to stop work immediately. If that is the case, then you get paid for those two months too and don't have to work until your last official day of employment.

@jessie, was yours a layoff with many other associates too at the same time due to no fault of your own?

In the past it was 2 weeks of Severance for every year of service with tha maximum of 1 year and a minimum of 2 months if you were laid off due to no fault of your own. The Severance Package (mine was FedEx'ed to me) has all kinds of paperwork in it, including how to file for Unemployment Insurance.

Or was it due to "cause"? in which case I don't know what the rules are.

"The affected employees are in the bank's consumer service and operations units.
That organization includes a customer service contact center and fraud and
claims units, said Colleen Haggerty, a spokeswoman for Bank of America."

Guess they figured "We don't really give any 'consumer service' and if we continue to employ fraud investigators, we'll have to arrest ourselves..."

"This action is designed to consolidate our operations, reduce cost and increase
efficiency," Haggerty said.

Corporate speak for "When cash is short, we'll kill you and sell your soul to Satan.  Just as long as no one takes my yacht!"