Tis the season for layoffs. You might need a new job search in 2018. As we speak, there are companies putting the final touches on separation agreements and/or severance packages. Well, the talk about departures or the rumored occurrences lately includes Adtalem, AAP, Aetna, AFLAC, Allscripts, Allstate, AIG, Anadarko, Arris, AT&T, ADP, Avaya, Baker Hughes, Bank of America, Becton Dickinson, Bed Bath & Beyond, Boeing, Bristol-Myers Squibb, and Broadcom. Not to mention every company that hired seasonal workers recently. This is why I am welcoming back to the show Tom Spiggle of Spiggle Law.
I want to hear from you of how this layoff episode resonates with you.
Here are places you can add to the conversation at large:
- Call and leave a voicemail at 708-365-9822, or text your comments to the same number
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More about Tom:
Tom Spiggle is a former prosecutor and former Assistant U.S. Attorney. His website also has a very informative blog found at spigglelaw.com He is regularly quoted in the media in such outlets as the Washington Post, CBS News, and many law journals.
Our discussion today is based on the article on Tom’s article on his blog, ” The Anatomy of a Severance Agreement.” This time of year is often feared for layoffs or departures. The Bureau of Labor Statistics clumps layoffs/departures as separations. Tom has a 6 part series to offer when you sign up with your email address.
Here are some highlights from our layoff show:
- Separation agreement – agreeing or wavering the right to sue, could include package with severance, outplacement services, etc
- Companies are not legally required to offer a separation package, no obligation
- Talk to financial advisor to get your ducks in a row
- If you think you may be laid off, and you have been sexually harassed, now is the time to file before any separation agreement
- Tom addresses the five components of the severance agreement in more detail: payment, benefits, unemployment, references, and obligations.