Acquired and my obligations to receive severance
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Acquired and my obligations to receive severance
My company was acquired and the new
company verbally communicated that my last
day was June 28th so naturally I have been
applying for jobs and took my kids out of
daycare as of that date. Now they are telling
me I need to stay through July. If I say I cannot,
would I still be eligible for my severance?
Asked on June 14, 2019 under Employment Labor Law, Colorado
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 4 years ago | Contributor
If you were given a written severance agreement guarantying you severance, they need to provide you severance under the terms of that agreement; therefore, you need to review the agreement, if you have one, to see if they must pay you under these circumstances.
If you don't have a written severance agreement, however, then offering you severance is discretionary on their part: they make the rules for who (if anyone; there is no obligation to pay severance in the law) would be free to state who gets severance when--and who does not get, and under what circumstances. They could therefore decide that if you are asked to stay longer but do not, that you do not get severance.
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