United States

The rules on severance pay in detail

Generally, no severance payment is required upon termination, unless an employment contract, collective bargaining agreement, or policy provides otherwise. Extra payments on termination are not common in the case of redundancy, but are sometimes used in relation to senior executives. In the case of redundancy, an employer may choose to offer employees separation pay or other benefits in exchange for a signed release agreement.

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Author: Fordharrison 

Date: December 2019