Employees often want to know if there is a difference between being told they are fired, told they are being laid off, let go, downsized or terminated. In some instances there are, but in other instances, regardless of the terminology, fired is fired. Regardless of the word that is used for your departure, you will no longer be employed at your current employer and you will need to seek new employment. The questions that generally stem from there include when will my salary be paid until? When will my benefits end? Will I receive unemployment benefits? Do I have any restrictions on my employment? And will I be given a severance package on the way out?
Receipt of severance may depend on several items, including among others:
- whether the Company has a severance plan
- whether you are the only person being terminated as a one-off termination or whether you are part of a larger group of employees being let go as part of a layoff
- whether your departure is based on your performance review or in response to a performance improvement plan
- whether the Company is closing a portion of the company requiring the Company to provide written notice and payments for a set period of time (i.e. WARN notices)
- whether you have been terminated with or without cause
- whether the Company is concerned about your departure and wants you to sign an agreement releasing any claim(s) you may have raised or could raise against them
- whether the Company wants you to sign a non-compete agreement
To learn more about what Why you Should have Your Severance Package Reviewed Before Signing, click here
If you have been fired, downsized, laid off, let go or terminated you should speak with an attorney to find out your rights and obligations. If you have received a severance agreement or believe you should have received one, contact Sheree Donath to have your document reviewed.