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Termination of employment or separation of employment is an employee's departure from a job and the end of an employee's duration with an employer. Termination may be voluntary on the employee's part ( resignation ), or it may be at the hands of the employer, often in the form of dismissal (firing) or a layoff .
Dismissal (colloquially called firing or sacking) is the termination of employment by an employer against the will of the employee. Though such a decision can be made by an employer for a variety of reasons, [1] ranging from an economic downturn to performance-related problems on the part of the employee, being fired has a strong stigma in some ...
A wrongful dismissal will allow the employee to claim monetary damages in an amount that compensates the employee for the wages, commissions, bonuses, profit sharing and other such emoluments the employee would have earned or received during the lawful notice period, minus earnings from new employment obtained during the lawful notice period ...
A layoff [1] or downsizing is the temporary suspension or permanent termination of employment of an employee or, more commonly, a group of employees (collective layoff) [2] for business reasons, such as personnel management or downsizing an organization.
Just cause is a common standard in employment law, as a form of job security. When a person is terminated for just cause, it means that they have been terminated for misconduct, or another sufficient reason. [1] A person terminated for just cause is generally not entitled to notice severance, nor unemployment benefits depending on local laws. [2]
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[1] If a notice period such as one month is required for an employer to terminate a contract, a 'payment in lieu of notice' is immediate compensation at an amount equal to that an employee would have earned as salary or wages by working through the whole notice period: for example, one month's salary.
But the mother of all end-of-year market chaos moments happened in a 10-day stretch to end 2018, when the Dow sank 4,000 points before staging one of the best days on record — a 1,086-point gain ...
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