At [company], we value our employees and their contributions to the success of our company. In the event of a layoff or termination, we offer a severance package to eligible employees.
Our severance policy applies to employees who are laid off or terminated due to a reduction in force, the restructuring of the company, or the discontinuation of their position. It does not apply to employees who are terminated for cause, such as misconduct or violation of company policies.
Eligible employees will receive a severance package based on their length of service with the company. The package will include a lump sum payment and continued health insurance coverage for a specified period of time. The specific terms of the package will be outlined in an individual severance agreement that the employee will be asked to sign.
In order to receive the severance package, employees must agree to certain terms and conditions, including a release of claims against the company. Employees will have a specified period of time to consider the agreement and seek legal advice before signing it.
We understand that the loss of a job can be difficult, and we are committed to providing support and assistance to employees during this transition.