Does he have a right to try and get the company to make a settlement or if it's out of their hands and whatever workman compensation gives is final?

A person was hurt at work and has been on workman compensation since August 2013 with the work restrictions there was no job for this person. After 10 months of therapy that has ended, the doctor says he can do no more, so the person was put on permanent restrictions. The workplace has now remove them from payroll and is no longer considered an employee because the employer did not have a job they could do with the restrictions. This person has been told that workman compensation will pay out a lump sum. Does this mean that the company this person worked for is out of the picture? That they do not have to offer anything to this person even though they was hurt on the job and had been a faithful employee for the past 28 years? Thank you.