QUESTION
If I decline the offer am I still eligible for a severance package?
Asked on Nov 19th, 2013 on Labor and Employment - Idaho
More details to this question:
My company was recently sold and the new company is only retaining some staff. My boss has given me a heads up that I should expect an off by the new company, but at a 25% pay cut.
4 ANSWERS
Appellate Attorney serving Grosse Pointe Farms, MI
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Musilli Brennan Associates, PLLC
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I would need more details, and you need counsel as to your options.
Answered on Nov 22nd, 2013 at 8:02 PM
Labor and Employment Litigation Attorney serving Beverly Hills, CA
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Thomas & Associates
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There is no legal requirement that you be offered any severance package.
Answered on Nov 21st, 2013 at 12:08 PM
this question is not governed by the law, it is governed by the employer, at their whim. Unless you have a written contract that so specifies, no employer must pay any severance pay - not one penny. This is also at the whim of the employer. Your new company may not have a severance plan. Ask yourself: Is 75% better than nothing, including no severance pay? You could have a frank discussion with your employer about what severance plan is available, if you leave now, right now. Unless you accept and receive the payment, they can change this later.
Answered on Nov 20th, 2013 at 12:07 PM
Commercial Contracts Attorney serving Boise, ID
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Peters Law, PLLC
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It won't hurt to ask, but severance packages are generally not a right, but a method of obtaining a release from the departing employee. So there is no guarantee you will get a package if you refuse the offer.
Answered on Nov 20th, 2013 at 12:07 PM