Employment Severance Packages
Employment Severance Packages are the payments and benefits which are received by the employees if they chose to leave their companies. Aside from their remaining compensation and retirement benefits, it may include additional reimbursements such as payment depending on the number of years they have served their company, payment for their unconsumed vacation or sick leave and medical, dental and life insurance grants among others.
These packages are mostly given to those employees who are laid off or those who retire from their jobs. And in some instances, these packages are given or offered to the employees for various reasons or maybe because the company is undergoing a restructuring or reorganization and even downsizing their workforce to lessen their financial liabilities for the employees salaries.
Although the U.S. laws do not have any legal requisites regarding Employment Severance Packages, the company with existing severance pay policy should implement in accordingly. More so, some employees are required by their employers to sign a contract, in exchange of these packages, which asserts that the said employers will not anymore be sued or ask of other claims. This instance should prompt the employees to be extra careful in signing the agreement.
On the other hand, the employees may also try to make negotiations to their employers to attain the best Employment Severance Packages. In this undertaking, the legal expertise of a credible labor lawyer is much needed to protect their rights and uphold their interests.
If ever you have other concerns about Employment Severance Packages and on how you can procure our legal services, call us through our toll-free number and ask one of our Employment lawyers for an advice. Equipped with the experience in dealing with labor issues, we will ensure that you will acquire the most favorable package coming from your employer. Our mission is to assist our clients in the attainment of their goals regarding their legal battles. So contact us immediately and be a one of our happy and contented clients.
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