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.
- How to Fire an Employee the Legal Way: 6 Termination Guidelines
- WIU settles with coach who was fired after cancer diagnosis
- For some employees, banking law trumps state protections
- Lawsuit against theater says bias was all in the family
- Are your employees equal-opportunity offenders? Be sure your discipline is just as colorblind