Wednesday, August 6, 2008

The Terms of "Involuntary Severance"

Again, management has been mum on specifics. But rest assured, the terms for anyone who is laid off are not likely to be the same as the buyout. Compensation for years of service would likely be calculated differently, and the lump sum payment for COBRA insurance could be far smaller than six months worth.

The upside, if you are a glass-half-full type, is that anyone who is laid off would almost certainly receive some measure of unemployment compensation. The company would also have to compensate you for any unused vacation time. Minus taxes, of course.

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