1. How To Squeeze Every Last Severance Dollar Out Of Your Layoff

    How To Squeeze Every Last Severance Dollar Out Of Your Layoff

    “Everything is negotiable,” says labor and employment attorney Alex Granovsky of Granovsky & Sundaresh PLLC. “Your employer is (probably) not offering you a severance [package] to be nice. While there is usually money involved, don’t forget that your employer is getting something from you, too. Your employer is paying [you] to shut up, go away, and never sue the company.

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    1. For example, if the departing employee is leaving because of poor performance, they may not have any leverage, but if the employee has a potential legal claim, such as a claim for workplace discrimination or any other type of wrongful termination, this may provide the employee with some leverage.
    2. Always have a reason or several for why you are requesting that the severance be modified. Just because you want more, or something different, is never enough . . . Make sure you think through what you really want and deserve, and what you are willing to give up.
    3. As a general rule of thumb, two to four weeks of severance per year of service is a good benchmark to go by.
    4. As someone who sees about 10 severance agreements every week, I can say that I generally see about one week per year for lower wage earners, two weeks per year for various managers and executives, and more generous packages for high-level executives.