4 ms·
10% severance of annual pay seems to be very low for an employee of 10 years. Is this normal in America? In Europe, in my experience, your severance gets larger
by liamacton 11y ago
10% severance of annual pay seems to be very low for an employee of 10 years. Is this normal in America? In Europe, in my experience, your severance gets larger the longer you have worked there. So for 10 years, something like 5-6months+ of pay would be what I'd expect.
*Edit - According to the UK Government, the statutory redundancy (severance) pay in the UK for a worker of 10 years would be 15 weeks pay at a maximum of £464 which equates to about £7k $10k. Obviously this is only the statutory level.
- hwstar 11y agoAmerican companies don't have to pay any severance pay. Some do to get you to sign a non-disparagement, and no solicitation (don't poach my employees after I've laid you off) contract to get a pitifully small severance package. American employment law is on par with 3rd world countries. Most first world countries have better employee protections (worker tribunals, statutory severance, statutory vacation, etc.)