News & Analysis as of

Severance Pay

Troutman Pepper

Current Executive Compensation Trends in Private Equity Transactions — Troutman Pepper Podcast

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In this installment of our Employee Benefits and Executive Compensation Considerations in Mergers and Acquisitions podcast series, Troutman Pepper Partners Joshua Gelfand and Michael Crumbock discuss current executive...more

Stikeman Elliott LLP

Tailwinds of “Common Sense” Buoy Employers: British Columbia Court of Appeal Upholds Simple Termination Clause

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In the decision of Egan v. Harbour Air Seaplanes LLP, 2024 BCCA 222 (“Egan”), the British Columbia Court of Appeal upheld a termination clause in an employment agreement, rejecting various arguments to undermine the clause’s...more

Dickinson Wright

Remote Employees Participating in Employee Benefit Plans – What’s Local Law Got to Do with It?

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Recently, a client called about a remote employee who was moving from the company’s primary location to a different state, and would continue working for the company.  The company had no other employees in the new state and...more

Benesch

Severance Agreement Confidentiality Provisions Under Fire, Employer Surveillance, and a Roadmap for Profanity in the Context of...

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In early 2023, the National Labor Relations Board’s (NLRB or “Board”) decision in McLaren Macomb, 372 NLRB 58, revoked employers’ ability to require their employees to keep the terms of severance packages confidential and to...more

Freeman Law

Nothing is Forever | Texas Law and Considerations for Severance Pay and Agreements

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All employment relationships end. That’s a fact. Sometimes, the employer decides to offer a severance package to the employee-to-be-separated. Severance agreements generally give the employer and employee a clean and...more

Stikeman Elliott LLP

The reasonable person test—When constructive dismissal becomes employee’s failure to minimize damage

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On February 1, 2024, the Superior Court of Quebec decided that a senior executive with 35 years of service who had been constructively dismissed was not entitled to severance pay because he had declined the new position the...more

Mayer Brown

Guide to Employment Law in Hong Kong

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Overview - The primary piece of legislation, the Employment Ordinance (the “EO”), prescribes certain basic rights and protection for most employees. The EO applies to every employee engaged under a contract of employment...more

Mayer Brown

FGTS Digital to Begin Effective Operation in March 2024

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The Brazilian Ministry of Labor and Employment (“MTE”) described the Length of Service Guarantee Fund Digital (“FGTS Digital”) as “a set of integrated systems that will manage the various processes related to fulfilling the...more

Holland & Knight LLP

14 de febrero de 2024 vence el plazo para el pago de cesantías en Colombia

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El auxilio de cesantías en Colombia es una prestación social que tiene como finalidad formar un ahorro en caso de que el trabajador se quede sin trabajo. Lo anterior, sirve de auxilio y se pagan al finalizar el contrato de...more

Venable LLP

ISS and Glass Lewis Release Proxy Voting Policy Changes for 2024

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On December 19, 2023, Institutional Shareholder Services Inc. (“ISS”) released its updates to its Proxy Voting Guidelines. Somewhat unusually, ISS made only one change to its voting recommendation policies for U.S. public...more

Constangy, Brooks, Smith & Prophete, LLP

"Quiet firing": A bad idea

Better to have the courage of your convictions. I'm sure you've heard of "quiet quitting," when an unhappy employee does the bare minimum to get by and keep drawing a paycheck, but doesn't care much about the job beyond...more

Kaufman & Canoles

ESOPs & Employee Benefits Q3 2023 Client Update

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As summer turns to fall, the employee benefits landscape continues to evolve. A few of our thoughts on recent updates are below. Also be on the lookout over the coming weeks for a separate guide to SECURE 2.0 provisions that...more

CDF Labor Law LLP

Governor Newsom Unexpectedly Vetoes a Number of Pro-Employee/Pro-Union Bills

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Later this month, we will report on all the new employment-related laws that California has enacted for 2024. However, this article focuses on the bills that Newsom vetoed. Some of these are a bit of a surprise...more

Dunlap Bennett & Ludwig PLLC

Common Misconceptions About Virginia Termination Laws

Navigating the intricate landscape of employment laws and regulations can be daunting, and Virginia’s termination laws are no exception. We often encounter clients with various misconceptions about the laws governing...more

Jackson Lewis P.C.

Caveat Propola – A WARNing to All Retailers in New Jersey

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We often hear caveat emptor (let the buyer beware). However, New Jersey enacted a law better described as caveat propola (let the retailer beware). On April 10, 2023, the long-awaited amendments to the Millville-Dallas...more

Mintz - Employment Viewpoints

Better Late Than Never: Employers in Canada Should Review Their Termination of Employment Provisions

Canadian employers should review their employment contracts and update them as necessary to avoid potentially costly problems upon separation of employment. Since early 2021 when the Supreme Court of Canada declined to...more

Seyfarth Shaw LLP

The Seventh Circuit Had “Good Cause” To Affirm An ERISA Plan Sponsor Win In Decade-Long Class Action

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The United States Court of Appeals for the Seventh Circuit recently took a clarifying pencil to certain standards applicable to benefits disputes under the Employee Retirement Income Security Act of 1974, 29 U.S.C. § 1001 et....more

Proskauer - Employee Benefits & Executive...

Seventh Circuit Affirms Discretion Over Who Gets Severance Benefits

A recent Seventh Circuit decision affirms the principle that an ERISA severance plan can reserve to the employer discretion over who is eligible for severance benefits.  The case is Carlson v. Northrop Grumman Severance Plan,...more

Poyner Spruill LLP

Legal Considerations When Downsizing Your Workforce

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With a weakening economy, many employers are now facing tough cost reduction decisions, which include possible separation of employees. Once it is decided to implement a reduction in force, the employer must make a further...more

Venable LLP

McLaren Macomb Follow-up: NLRB General Counsel Issues Guidance for Confidentiality and Non-Disparagement Clauses in Severance...

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Two months ago, the National Labor Relations Board (the Board) changed the rules for confidentiality and non-disparagement clauses in severance agreements. In McLaren Macomb, 372 NLRB No. 58 (2023), which we previously wrote...more

Ogletree, Deakins, Nash, Smoak & Stewart,...

New Jersey WARN Severance Pay Challenge Rejected

On April 6, 2023, a New Jersey federal court denied a request to invalidate the severance pay requirements of the amended New Jersey mini-WARN law, known officially as the Millville Dallas Airmotive Plant Job Loss...more

Manatt, Phelps & Phillips, LLP

409A Issues in Executive Compensation Contracts and Employment Agreements

Section 409A of the Internal Revenue Code of 1986, as amended (409A), was enacted into law in 2004 to impose statutory requirements on “nonqualified deferred compensation plans, programs or arrangements” (collectively...more

Burns & Levinson LLP

Your Company’s Current Severance Agreement for Non-supervisory Employees Might Be Illegal – What To Do Next.

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If your company, like many, includes “standard” confidentiality and non-disparagement provisions in its employee severance agreements, those agreements may contravene a recent NLRB decision, McLaren Macomb. In that matter,...more

Ogletree, Deakins, Nash, Smoak & Stewart,...

Employee Benefits and Rights in Puerto Rico: What to Know Now That Law 41-2022 Has Been Declared Null and Void

On March 3, 2023, the U.S. District Court for the District of Puerto Rico issued a decision declaring Law 41-2022 null and void, effectively reinstating the prior state of many of Puerto Rico’s employment statutory...more

Littler

Germany: Optimizing Severance Pay to Finance Early Retirement

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Little known and therefore little used in Germany is the option of providing pension contributions instead of severance pay. If an employee has plans to retire early, or if a mutually agreed termination of the employment...more

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