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Severance pay in case of a layoff

by on
in Firing,Human Resources

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.
 

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