How to Negotiate Severance Before Layoff

How to Negotiate Severance Before Layoff

One part of having a career that not too many people like to think about is getting laid off. At some point or another this may happen to you. Whether it is unexpected or a long time coming there are things that you should know so that you are prepared for your severance talk. Susan Adams of Forbes recommends taking some time to digest your company’s severance offer, and do negotiate for a better deal before you sign anything. Here are a few more things that must be taken into consideration.

Employment lawyer Wendi Lazar, a partner at Outten & Goulden, notes that companies routinely ask departing workers to sign a document that waives almost all rights to sue under any federal discrimination statutes and state or local laws. At the same time, your employer might present you with an onerous non-compete agreement. Lazar says it’s wise not to sign before you consult with a professional, be it a lawyer or a coach, especially when it comes to non-competes. Those agreements deserve a separate article, but suffice it to say that the law requires employers to offer quite a bit of severance if they expect workers not to compete for an extended period.

Read more at Forbes