If you are terminated and your employer hands you a severance agreement, you’ll want to know your rights before you sign anything. More often than not, severance agreements are drafted by an employer’s lawyer with provisions to protect the employer and not you, the employee. In fact, many of these agreements ask you to give...
Understanding a Severance Package Losing a job, especially when unexpected, is a nightmare for most employees. Worrying about finding another job, paying bills, and covering health insurance premiums between jobs stresses any employee who has been terminated or laid off. Fortunately, you can reduce these fears by educating yourself on severance pay basics long before the need arises....
Employers are not required to offer severance payments to employees they lay off or terminate, unless there is a specific employment contract or company policy requiring the payments. Since most employees are “at will,” the employment relationship can be ended by the employer or the employee for any reason except an illegal reason. Why then...
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