Q. Does Colorado require severance pay if companies do layoffs?
A. No. No state or federal law requires severance pay. However, if companies voluntarily adopt such a plan, then it may be enforceable. If a company decides to offer severance pay, it should consider whether to require employees to sign a waiver-and-release agreement in exchange for the severance pay.
- Pierogi--steamed at Pirates' front office--loses job
- Ignoring lawsuits can cost employers big bucks
- Nice work if you can get it: 12 years of full-time time off
- Certain you had a good reason for firing? Don't agonize over decision--or fear a bias suit
- Same incident, two punishments: Be able to explain why one was harsher