Severance: What It Is & How to Calculate It - Levitt Sheikh Employment & Labour Lawyers

What is Severance Pay? Severance pay is compensation paid to an employee whose employment has been severed by their employer. It is meant to compensate long-term employees for losses upon termination. Although severance pay is commonly conflated with termination pay, which is given in place of the required notice of termination of employment, they are two

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