Practice Areas » Severance Packages
Review And Negotiation Of Executive Severance Packages
One service our office provides is review of severance packages offered to workers who are leaving a job involuntarily but not being terminated for an illegal reason. We provide a number of services for such individuals. We make a general review of the severance package provision to make sure that it does not contain any hidden traps in it, and that the employee has considered a variety of issues that arise.
We also review the employee's negotiating positions to see the extent to which the employee may be able to obtain an enhanced severance package. Finally, we go over the circumstances of the termination to see if the employee may have possible legal claims to pursue.
Employees who are faced with a sudden loss of a job are often in a weaker position emotionally, financially, and psychologically. They need an attorney who can provide objective feedback and negotiate on their behalf with their employer to enhance the severance offer. In order to do this we have to go into some depth with the employee to understand the workplace, to find out who the decision-makers are and what negotiating positions and advantages the employee will have in trying to get the company to enhance the severance package. The strategies employed in negotiating an enhanced severance package are not the same in each case; instead they tend to differ in every case because every situation is unique. Factors that enter into the severance package negotiations include the longevity of employment, the position of the employee, the company's standard procedure or procedure followed in connection with other employee severance packages, the employer's financial position, the negotiating leverage the employee may have, the closeness of the employee to the decision-makers, the potential for the employee to find alternative employment, and existence of a non-compete agreements.
If you are negotiating a severance package with your employer you should call our office. The vast majority of employees in this situation have been dealt a psychological, emotional and financial blow. It is very difficult for them to negotiate for themselves or view the situation objectively. In these situations our firm gets a full understanding of what happened, and what the possibilities are in the future. We then provide some objective feedback and negotiating strength to assist our clients in getting an enhanced severance package or in some cases pursuing a wrongful termination or discrimination lawsuit.
If you have been or will be offered a severance package, our firm would be glad to assist you further. Contact Us Today →