A severance package is pay and benefits an employee receives when he or she
leaves employment at a company. In addition to the employee's remaining ...
Dec 11, 2012 ... Some employers choose to offer severance pay to employees who are
terminated, either involuntarily or voluntarily. The primary reasons for ...
In a majority of situations, severance pay laws do not require employers to offer
severance packages to terminated employees -- but it could make sense to do it.
Normal circumstances that can warrant severance pay include layoffs, job
elimination, and mutual agreement to part ways, for whatever reason. Severance
For example, it could be a week's pay
for every year or service or a flat amount based on six weeks pay
, or any other amount determined by the employer. There is no requirement in the Fair Labor Standards Act (FLSA ) for severance pay
. Caitlyn was paid a week's salary... More »
Some employers assume that they have to offer a severance package -- some
combination of money and continuing benefits -- to fired employees. In many ...
Apr 13, 2007 ... Companies pay severance because it's cheaper than being sued for ... Another
reason for severance is to compensate for non-compete ...
May 8, 2012 ... Due to the growing number of layoffs that have occurred at companies
nationwide over the last few years, severance pay is a hot topic.
A severance package is pay and benefits that an employee is offered when they
... According to one recent survey, the number one reason is to avoid a future ...
There is generally no requirement that severance or termination pay be given ...
such pay or unless there is another specific reason a severance package would ...