Some laws are in place to protect the employees from being exploited by the employer. In case of termination, the employer provides you with reasonable working notice or a payment in lieu of notice. This also includes the termination pay. When you have been let go, you might also be entitled to severance pay, dependent on various factors. Consulting a severance pay lawyer will help you gain more clarity. In case you are entitled to severance pay. They will use the severance pay calculator to calculate how much severance pay you would be getting. Here is how a severance pay lawyer can help you.
What is severance pay?
Being let go from your job, the uncertainty about how you will make your ends meet or what the future holds? When you have been terminated, chances are you might be entitled to termination pay, which is a type of pay that the company owes to the employees once they have been let go from their jobs. The amount of the termination payment is dependent on various factors. Some of the employees might also be eligible to receive severance pay along with termination pay.
Many companies provide something known as a termination package which includes both termination pay and severance package. The amount of the severance package is highly dependent on the time that you have served with the employer. The longer you have worked with them, the greater the package will be.
Who is eligible for severance pay?
You might find yourself wondering whether you are eligible for severance pay or not. The employee who has worked for the employer for five or more years is eligible for receiving severance. This time also includes both active and not active time which has been spent during the employment. The employer criterion for severance includes a payroll of at least $2.5 million, or the employer has severed the employment of 50 or more employees in the last six months because they have either permanently closed down some parts of their business or all.
Why do you need to hire a severance pay lawyer?
When you have been fired for cause, you might not receive a severance package. In such a case, you should reach out to an experienced law firm like HTW Law, which will help you fight for the severance package that you so rightfuly deserve. The severance is meant to be something that will keep you afloat in this time of uncertainty while you are looking for a new job. You must get what you truly deserve. After spending so much time and effort at the company, it is the best decision to fight for a severance package. The experienced lawyers will work and fight to help you get the largest severance package possible. If you have been let go from your job and are confused about your severance package, it is always best to reach out to an employment lawyer.