Why are they giving me a good deal?

Hi,

I am getting laid off at the end of August. My division was eliminated in January and most were laid off. My employer said that they would try to find another job within the company but none really materialized. My Boss was promoted to Vice President and I followed him to a new division. I was given new tasks in addition to my old. At this time I was offered a stay bonus which entailed 12 weeks pay instead of the standard 6 weeks which I would be entitled under typical company policy (2 weeks per year and 2weeks base). I was told that this would apply if I would stay on until the end of April. Without options, I agreed to the plan. At the end of April, this contract was extended to May and then June and then July at the end of each month. Each time I asked for an increase in the amount and was told that this was not possible. Towards the end of July, I received another extention to the end of August. On July 31, I was called in and told that August would be it.

Now, it seems like I am getting a good deal for an employee that has only worked for two years for the company. My question is why would they offer me so much? Could it have anything to do with my bosses Alcoholic problems and drinking and Psychological abuse on the job? Would this be the reason for the bribe to not take any action against the company? Also, they have told me that they were able to offer this package because it is structured within the sale of part of the company. Why is this so? It seems from what I have read that they can offer whatever they want to pay.

Regards,

David Diamond

1 answer  |  asked Aug 26, 2001 1:03 PM [EST]  |  applies to New York

Answers (1)

Outten & Golden LLP
Severance Offer

Dear Mr. Diamond:

To properly answer your questions regarding your severance offer, an employment lawyer would have to review the details of your former employer's severance plan. Generally speaking, by offering you a more generous severance, the company is putting a price on your agreement to leave your position without an opportunity to address any potential illegalities you may have encountered as an employee. Under certain circumstances, an experienced attorney can maximize your severance opportunities by negotiating with the company. Our firm has extensive experience with negotiating severance agreements and can offer services of this type on an hourly fee basis or, perhaps, through a contingency fee arrangement.

If you are interested in receiving legal services from our firm, please feel free to telephone us at 212-245-1000 and ask to speak to Melissa Arthur, who manages our intake process.

posted by Outten & Golden LLP  |  Aug 28, 2001 08:45 AM [EST]

Answer This Question

Sign In to Answer this Question

Related Questions with Answers

Have an Employment Law question?