As layoffs roil tech and other industries, many departing employees face a consequential workplace decision: signing a severance agreement.
Some tech companies appear to be offering fairly generous packages. Google and Meta are providing at least four months pay for those laid off, with veteran employees qualifying for longer payouts. But exit documents also contain information about health insurance and returning any office equipment, as well as details on seeking unemployment. Once the agreement is finalized, it can be difficult to challenge it later, attorneys said.
Here are five things to consider when signing your severance agreement, according to labor lawyers:
Companies are often required to let affected workers know ahead of mass layoffs. The federal Worker Adjustment and Retraining Notification Act, or WARN Act, which applies to big employers, calls for a 60-day notice period.
States also have their own versions of the law, which could require employers to offer even more notice. New York's WARN act, for instance, can require companies to provide a 90-day notice period. New Jersey's similar rule, which calls for certain...
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