There are two main issues to think about when you are selected for layoff. First, why did your employer select you? You should write a chronology about your employment and include details about why you think you were selected for layoff as well as anything you think was unfair or unjust, especially if it was discriminatory or breached a contract. This chronology - which you should keep confidential and only show to your lawyer - will make it more efficient for you and an employment lawyer to determine if you may have a legal claim that you would be waiving by signing a severance agreement, which most likely contains a release. (You can review this with an employment lawyer prior to your getting the paperwork next week). Next, the severance agreement should be reviewed with an employment lawyer to make sure it says what you think it says. You should bring - if available and relevant - your handbook, offer letter, contract, severance plan documents (the summary plan description and full plan document if they exist), as well as any stock option related documents and any other documents referenced in the severance agreement. Severance agreements can be very simple or very complex. Sometimes they can be negotiated, and sometimes not. Some agreements are generous - others would have you waive a valuable claim. Consulting with an experienced employment lawyer can help avoid problems down the road. An initial consultation to review a severance agreement can often take place in as little as 1-2 hours, and may be the best investment you ever make. Contact me if you would like our firm to review a severance agreement with you in NYC or Long Island or you should look for an experienced employment lawyer in your area. Bob Lipman www.lipmanplesur.com
Answered on May 30th, 2012 at 2:07 PM