When the time comes to part ways with your employer due to no fault of your own, you will be entitled to severance, an amount of money to make you whole due to the loss of your employment. Severance is governed by employment contract, the common law and statute, with facts such as your age, position held, length of service, reason for the termination factor into the equation. Depending on the type of position you held and in what industry it can be a complicated question determining entitlement.
This leads to the obvious question: how can I tell if my severance fair?
Is My Severance Package Fair?
So how do you know if you’re being offered fair severance? The starting point for this, as with almost everything in employees law, is the employment agreement.
Is there a written employment agreement? If so is it enforceable? If there … Continue reading