Severance Packages

When a company downsizes and many employees are left jobless, the company may offer a severance package to the employees. While not required to do so by any law, oftentimes companies offer severance packages to help their employees remain financially secure while they seek alternative employment. Severance packages have certain advantages and disadvantages, and it will serve you well to be informed about both.

If you or someone you know has been unlawfully terminated or coerced into accepting a severance package, you may have grounds for a lawsuit. Consult the San Antonio employment lawyers of Melton & Kumler, LLP to discuss the details of your case. Call 1-800-681-6932 today to learn more about your legal options.

Benefits of Severance Packages

Severance packages vary from company to company, as well as from person to person. Your package will likely be determined based on a variety of factors, typically including your pay rate upon termination, job description, performance, years of service, etc. If you choose to accept your severance package, it can help you bridge the gap between jobs.

Disadvantages of Severance Packages

The disadvantages of accepting a severance package are limited, but important nonetheless. In some cases, if you accept severance, you cannot file for unemployment. Additionally, if you are relying on severance instead of unemployment benefits, you will need to begin your paperwork immediately. Frequently, severance packages take a long time to process, and you may go for weeks or even months without receiving income.

Contact Us

If you accept a severance package, you forfeit your right to sue for misdeed. Consider your options before signing any paperwork, and contact a San Antonio employment lawyer of Melton & Kumler, LLP if you have any questions. Call 1-800-681-6932 today for a free initial consultation.