What is the base rate used in calculating severance
Prior to separation through a "Work force Reduction" the salaried employees took a mandatory 5% salary reduction. Upon signing the severance agreement outlining the numbers of weeks for vacation and severance as well as giving up ERISA rights I received the severance payment. The payment was based upon the rate prior to termination not the previous year's rate. Is it legal to institute the salary reduction on all salaried employees and then use this rate in severance calculations?
0 answers | asked Sep 16, 2009 06:28 AM [EST] | applies to North Carolina
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