Should I Get My Severance Agreement Reviewed?

 

My Employer Offered Me A Severance, Should I Get The Agreement Reviewed Before I Sign It?

Yes, talk to an Ohio Employment Lawyer at Mansell Law today to discuss having your severance agreement reviewed. Many employers require employees to sign agreements containing broad legal releases in return for a severance payout. By signing the agreement, you could be waiving important legal rights or claims you have against your employer. Speaking to an employment lawyer about your severance package will help you understand exactly what you are agreeing to when you accept your severance package. Our Ohio Employment Attorneys may also be able to assist you in negotiating a bigger severance. Contact us today to book a review and consultation of your severance package.

Why Do Employers Offer Severance Packages To Employees?

Employers offer severance packages for various reasons. Severance may be offered in recognition of an employee’s length of service, to help the employer remain a competitive employer in the industry, or to reduce the “sting” of involuntary termination in employee layoffs. Severance packages are also used a vehicle for the employer to avoid future lawsuits by having the employee sign a release in exchange for the severance payout. While two weeks of wages for every year of the employee’s service used to be a standard severance offer, severance packages today vary widely by industry and by individual employers. Our Ohio Employment Lawyers can help you discover whether your severance offer meets current industry standards.

I Only Have 24 Hours To Accept My Severance Package, Is This Legal?

Employers usually set a deliberate period of time where an employee must sign a severance agreement or the employer will withdraw the offer. This time period can vary, but under the Older Workers Benefit Protection Act (“OWBPA”), terminated employees over the age of 40 must be given at least 21 days to review and accept a severance agreement.[1] Additionally, those employees have a legal right to revoke their acceptance of the agreement within 7 days of signing it. Further, the law requires employers to give employees over the age of 40 at least 45 days to review and accept a severance agreement if the employee’s termination is part of a mass layoff or workforce reduction.

My Employer Laid Me Off But Didn’t Offer Me A Severance, Am I Entitled To One?

Unfortunately, neither federal nor Ohio law requires an employer to offer a terminated employee a severance, even if the employee was terminated without cause.[2] However, even if you were not offered a severance, you should still speak to an Ohio Employment Attorney about the circumstances of your termination. If your employer violated any state or federal employment laws, our Severance Agreement Attorneys at Mansell Law may be able to assist you in negotiating a favorable severance package in exchange for a release of your legal claims.

Mansell Law, Employment Attorneys representing employees in severance negotiations.

[1] https://www.eeoc.gov/laws/guidance/qa-understanding-waivers-discrimination-claims-employee-severance-agreements#II

[2] Some employees may be entitled to a severance payout if their employer is covered by the WARN Act and the employer failed to provide the required 60-day notice of a mass layoff.