Severance Package Lawyer: FAQs for Investment Bankers, Medical Doctors, Corporate Employees, and other Professionals
Severance Package: FAQs
I’ve worked for the same investment bank for 4 years. Is my Wall Street firm required to give me a severance package?
The law does not require your employer to give you a severance package. In today’s economic climate, the growing tendency is to offer employees with a package before they are terminated. We have seen circumstances where severance packages are not devices to “soften the blow” but a strategic, pre-emptive move by human resources to have you waive your right to sue for wrongful termination, discrimination, or sexual harassment. It is for this reason that we recommend that you call the seasoned attorneys at Villanueva & Sanchala, PLLC for a consultation today at 800-893-9645.
What Does Typical Severance Package Look Like?
Each severance package will vary from company to company. Some severance packages are one page in length while other can go one for many pages. It all depends upon the savvy and acumen of your human resource department and in-house counsel. There are some things that will be universal in any standard severance package.
Should I Receive Severance Pay?
Most severance packages will offer you some kind of compensation based upon a formula derived by the company. For example, you may receive one week of salary for every year that you worked for the company.
Can I Still Receive Insurance Benefits?
Congress has enacted Federal laws and most states have enacted local laws that require an employer to offer you continued health insurance benefits. Most people refer to these rights as COBRA.
Can I Collect Unemployment?
It depends on the type of employer you had and the terms by which your employment ended. We recommend that you call our employment severance package lawyers to discuss this in further detail Call today to schedule your consultation at 800-893-9645.
Can Your Law Firm Help Me Make Sense Of this Document?
Yes. Your former employer has a team of lawyers fighting to ensure their best interests are protected. You should too. Call our attorneys at 800-893-9645 to schedule your consultation today.
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