Severance pay is discretionary compensation given to an employee who is about to lose his or her job. An employee who accepts a severance package ordinarily releases his or her employer from liability for potential claims that may have arisen during the employment period. Severance pay is not always warranted and no employer is legally obligated to provide severance unless the company has an established severance plan. However, you may receive severance pay in the following circumstances:
Employee layoff
Job elimination
An agreement to part ways
We invite you to read on to learn more about severance pay and to learn how a severance pay lawyer in New York can help you. The severance pay lawyers at Fitapelli & Schaffer will be able to assist you in determining whether the severance package you received is fair.
Being Fired vs. Employee Layoff
Being fired is not the same thing as being laid off and a lawyer in New York will be able to explain the difference. When you are fired for poor work performance or because you failed to comply with company policy an employer is unlikely to assist you in any way other than compensating you for unused vacation time. On the other hand, when an employee is laid off due to no fault of his own, severance pay is expected and the employee is likely to receive continued health insurance for a limited time. If you are unaware of your rights after being laid off or terminated, a severance pay lawyer in New York, such as the lawyers at Fitapelli & Schaffer, will be able to assist you in determining what benefits you are entitled to.
Your Rights
Generally, severance pay is awarded when you are laid off due to no fault of your own. By offering a severance package, your employer is securing the release of potential claims against the company. If you sign the agreement it is likely to be enforced against you even if you only skimmed the document before affixing your signature. Please read your agreement closely to determine what rights you are giving up. You are not required to sign any agreement and should contact a severance lawyer in New York before accepting your package. The severance lawyers at Fitapelli & Schaffer can review your agreement, negotiate a better package on your behalf, or bring suit for employment related violations in lieu of accepting your deal.
