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With that said, you are still without a job after the layoff happens. Your actions immediately after learning about your company’s plans have a definitive effect on the next phase of your career ...
Severance agreements cannot contain clauses that prevent employees from speaking to an attorney to get advice about whether they should accept the offer, or speak to an attorney after they sign. The offer also cannot require that the employee commit a crime, such as failing to appear subject to court subpoena for proceedings related to the company.
And expect it to take years, if ever, for your salary to bounce back after a layoff. That's the bad news in a recent New York Times story that cites a Reduction in income after a layoff can follow ...
In the first of this three-part series on the dos and don'ts of retirement savings, I reviewed how to best manage a 401(k) or similar employer-offered benefit. But as today's companies continue to ...
A less severe form of involuntary termination is often referred to as a layoff (also redundancy or being made redundant in British English). A layoff is usually not strictly related to personal performance but instead due to economic cycles or the company's need to restructure itself, the firm itself going out of business, or a change in the function of the employer (for example, a certain ...
Let's say your employment contract expressly states that any worker who's laid off gets severance equal to one month of pay per 12 months of employment, up to a total of 12 months of compensation.
The Worker Adjustment and Retraining Notification Act of 1988 (the "WARN Act") is a U.S. labor law that protects employees, their families, and communities by requiring most employers with 100 or more employees to provide notification 60 calendar days in advance of planned closings and mass layoffs of employees. [1]
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