When being impacted by a #layoff, furloughs or reduction in force, there are many decisions to be made, including whether or not to sign an offered #severance or separation agreement. Many employers offer severance to a departing employee in order to receive a full release of claims in exchange. Typical severance agreements require a departing employee to give up all legal rights to any cause of action that could have been brought against the employer up to the date of the severance agreement. Basically, an employee who signs a #severance agreement will give up the right to sue for anything that might have happened during his/her tenure with the employer. Once an employee signs a severance agreement, his/her rights (if any exist) have been extinguished. You should know what rights you will be giving up if you enter into such an agreement, exactly what you are entitled to if you do not sign the agreement, and what you will be receiving if you do accept the severance offer. There is a company named HR Full Disclosure that reviews and walks you through all of the terms and conditions of your severance. I would check out there website for those who received a severance. They helped me go through every word of my agreement to make sure that i understand it completely. Shoot them an email at info@hrfulldisclosure.com or head over to their website www.hrfulldisclosure.com to book a severance review complete with unemployment counseling
Depending on the amount of compensation offered and the terms outlined in the agreement, it may not be worth signing if there is language or clauses which can hinder you future employment as an example That's somethingthey could help get removed from the agreement.. It's not about having someone read it to you, it's about getting a comprehensive overview, so you can be alerted of certain things and steer clear. Finally, the ability to have someone help you negotiate more. Your signature on a release of claims is golden to an company so you do have some leverage here
What percentage of lawsuits win or settle anyway? If people are to sue after layoffs
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What is your alternative? Don't sign and don't get severance? Unless you think your layoff is wrongful, I don't see why you need to pay someone to read you your separation agreement.