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Severance Pay
Benefits & Compensation
Severance Pay
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Our company is involved in a merger. We have a severance policy for our managerial staff, but want to establish a policy for the remainder of the employees. What are other companies paying? Is there a
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Severance Pay

posted at 3/28/2000 4:27 AM EDT
Posts: 3
First: 3/15/2000
Last: 3/28/2000
Our company is involved in a merger. We have a severance policy for our managerial staff, but want to establish a policy for the remainder of the employees. What are other companies paying? Is there an industry standard?
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Severance Pay

posted at 4/2/2000 7:59 AM EDT
Posts: 2442
First: 2/12/2000
Last: 9/14/2011
Nancy

There are as many different severance policies as there are companies in the US. Key issues:

1. What can you afford?
2. What has been done by similar companies in the region? What if this conflicts with item 1.?
3. Must you have two policies?
4. Are there hourly bargained for employees?
5. You do know this will likely be an ERISA plan.
6. Have you laid off non managerial employees in the past and provided Severance Pay?
7. What happens if someone is laid off in a year due to the merger?

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