Author of "Your Journey from Fired to Hired"

Severance Packages

If you were terminated and offered a severance package, consider yourself lucky!  You have been given the gift of time to regroup before making your next career move.   While you have the luxury of some income, don’t neglect the important points below:

  1. Know your rights.  These packages are legally binding documents and typically require you to give up some of your rights.  This is not something you should take lightly.  Consult with an employment attorney before signing any documents.
  2. Contact an attorney.  Severance offers normally have an “offer window” and must be signed within a certain number of days.  Consequently, you will want to make an appointment with an employment attorney as soon as you are offered a severance package.
  3. Consider negotiation.  Discuss possible points of negotiation in the severance package when you meet with your attorney.  It’s a process similar to buying a house.  They made an offer with the initial severance package, but after a consultation, your attorney may recommend that you counter offer.

 

Resources:

“Your Journey from Fired to Hired” - Pages 18; 21; 25 and 28

Legal Assistance:

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