Bloomin’ Brands Updates Severance Plan for Executives

Bloomin’ Brands ( (BLMN) ) has shared an announcement.

Bloomin’ Brands, Inc. has updated its Severance Pay Plan, effective October 21, 2024, to protect senior employees from salary and benefit losses in case of involuntary termination. The plan covers eligible salaried employees at Level 8/Vice President and above, offering a lump-sum cash payment and health coverage continuation under specific conditions. However, it excludes those with existing agreements or benefits under different company plans. Compliance with certain conditions is required to receive these benefits.

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