5 ms·

As your being made redundant, there's nothing untoward about their reason. 1 month for each year served is fairly normal so again, nothing untoward. Signing a

As your being made redundant, there's nothing untoward about their reason. 1 month for each year served is fairly normal so again, nothing untoward. Signing a release is also fairly standard. Under these circumstances I would always recommend showing the release to an employment lawyer. For me, peace of mind is worth a couple of hundred dollars but YMMV. Also, in the UK at least, there are tax breaks on some of the redundancy package so it's worth looking into. Otherwise, what you do next depends a lot on what your financial situation is. I was made redundant a number of years ago and it worked out great. I was married and had a child at the time but we had enough money for me not to work for a few months. I had a bit of a break, in hindsight I was quite burned out, then got a job at a startup, refreshed and raring to go. Obviously, it's not always a positive experience but it's not always negative either. Good luck. Hope things work out.

edejong 10y ago
You are not obliged to sign anything. So, it's always disadvantageous to sign these documents. Don't do it.
- blauditore 10y ago
  Depending on OP's country, the employer may not be obligated to pay any severance at all, and this document may be part of the agreement.
- lucozade 10y ago
  This is not good advice. Although it is true that you don't need to sign these docs, many countries have very low legal requirements for statutory redundancy pay. UK definitely, US too I believe. If the company is offering more compensation and you are ok with the strictures of the paperwork, then it is entirely sensible to sign. However, as I said further up the chain, this is a legal document and it's worth getting a professional opinion. Obviously, if the document has strictures that you don't want to or can't agree to, then absolutely don't sign. You are definitely not obliged to but the company is then only obliged to provide the legal minimum.
- chiph 10y ago
  In the US, signing a non-disparagement agreement is often tied to receiving severance. Ideally, one should have 6+ months worth of expense money in savings, so you'd at least have the option of not signing. But unless the company were total tools/jerks, why not sign & take the money?
softawre 10y ago
1 month for each year served? That is common? I've heard 1 week per year is common. I have been with my company for almost 10 years. You're not really suggesting they'd pay me almost a year if they laid me off.
- camiller 10y ago
  Usually there is a cap, my first lay-off I'd been with the company for 17 years. The severance policy was 1 month per year served, capped at 6-months. With six-months pay coming I actually turned down the first offer I got, Still ended up accepting an offer at about the two month mark and ended up with near four months overlap.
- lucozade 10y ago
  In the UK that's (more or less) the minimum plus or minus caps. It's not uncommon to get offered higher, month per year for example, in return for signing a waver. Edit. I'm not suggesting that you'll get paid for 10 months. I have no idea what your company policy is. However, I received a year's salary with the first 30k or so tax free. So it may not surprise you that I was happy to sign the waver.

edejong 10y ago

You are not obliged to sign anything. So, it's always disadvantageous to sign these documents. Don't do it.

blauditore 10y ago
Depending on OP's country, the employer may not be obligated to pay any severance at all, and this document may be part of the agreement.
lucozade 10y ago
This is not good advice. Although it is true that you don't need to sign these docs, many countries have very low legal requirements for statutory redundancy pay. UK definitely, US too I believe. If the company is offering more compensation and you are ok with the strictures of the paperwork, then it is entirely sensible to sign. However, as I said further up the chain, this is a legal document and it's worth getting a professional opinion. Obviously, if the document has strictures that you don't want to or can't agree to, then absolutely don't sign. You are definitely not obliged to but the company is then only obliged to provide the legal minimum.
chiph 10y ago
In the US, signing a non-disparagement agreement is often tied to receiving severance. Ideally, one should have 6+ months worth of expense money in savings, so you'd at least have the option of not signing. But unless the company were total tools/jerks, why not sign & take the money?

softawre 10y ago

1 month for each year served? That is common? I've heard 1 week per year is common. I have been with my company for almost 10 years. You're not really suggesting they'd pay me almost a year if they laid me off.

camiller 10y ago
Usually there is a cap, my first lay-off I'd been with the company for 17 years. The severance policy was 1 month per year served, capped at 6-months. With six-months pay coming I actually turned down the first offer I got, Still ended up accepting an offer at about the two month mark and ended up with near four months overlap.
lucozade 10y ago
In the UK that's (more or less) the minimum plus or minus caps. It's not uncommon to get offered higher, month per year for example, in return for signing a waver. Edit. I'm not suggesting that you'll get paid for 10 months. I have no idea what your company policy is. However, I received a year's salary with the first 30k or so tax free. So it may not surprise you that I was happy to sign the waver.