For 19 years I have worked at a company that has offered, under contract a severance package of x months severance for y years. We are facing a reorg next week and today they issued a severance package that is 1/2 of what was previously offered. What are

For 19 years I have worked at a company that has offered, under contract, a severance package of x months severance for y years. We are facing a reorg next week and today they issued a severance package that is 1/2 of what was previously offered. What are the legal repercussions, if any?

1 answer  |  asked Jan 15, 2016 5:38 PM [EST]  |  applies to New York

Answers (1)

V Jonas Urba
There is no requirement for any company to provide severance pay or benefits aside from the option to continue COBRA and whatever if any vested retirement you have earned.

Companies that do offer severance can change or modify it at any time.

You will almost certainly have to waive some rights before you receive any payment. It is highly recommended that you pay a labor and employment lawyer to review those documents before you sign them. Skilled labor and employment lawyers can often, not always, recover a better package for you and you will/should not pay a percentage on the amount you would have received without your lawyer's help. So if there is nothing else to gain you pay the fee for the review and if the lawyer believes more may be due you pay a percentage of only the extra amount your skilled labor and employment lawyer negotiated for you.

posted by V Jonas Urba  |  Jan 16, 2016 09:03 AM [EST]

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