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.
Like what you've read? ...Republish it and share great business tips!
Attention: Readers, Publishers, Editors, Bloggers, Media, Webmasters and more...
We believe great content should be read and passed around. After all, knowledge IS power. And good business can become great with the right information at their fingertips. If you'd like to share any of the insightful articles on BusinessManagementDaily.com, you may republish or syndicate it without charge.
The only thing we ask is that you keep the article exactly as it was written and formatted. You also need to include an attribution statement and link to the article.
" This information is proudly provided by Business Management Daily.com: http://www.businessmanagementdaily.com/5268/severance-pay-in-case-of-a-layoff "
- Nacogdoches ATV dealer faces constructive discharge suit
- Decrease in Overtime Hours Not Necessarily an 'Adverse Action'
- Problems found during FMLA: Is it OK to fire?
- Federal laws on employee discrimination: what managers need to know
- IRS clarifies COBRA subsidy's 'involuntary termination' language—sort of