Severance Pay

Full Video Transcript

It's a common misconception that employees are entitled by law to severance pay. There are no laws requiring severance pay per se because severance pay is generally considered to be a matter of agreement between employers and workers. That said or work remain over the last be entitled to severance pay on the contract theory depending on the circumstances of employment. For instance, if you worked under a written contract specifically requiring severance pay, then the employer's failure to pay it may be grounds for a lawsuit. Also, you may be entitled to severance pay if an employment handbook or other written policy provides for it. And sometimes, even when there is only a verbal agreement for severance pay or severance pay is customarily given to departing employees in similar positions, it might be considered an implied obligation of the employer to pay it. For more information about severance pay or other job termination issues, contact in attorney in New York area today.

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