In the unfortunate event an employee needs to be let go, a separation agreement may be warranted. A separation agreement can protect the employer form a future lawsuits and reduce the uncertainty related to releasing an employee. There are specific provisions that must be included in a separation agreement to comply with applicable law. The company should have an attorney such as those at Trimboli & Prusinowski draft an appropriate agreement for its situation and protect the company’s interests.
When a number of employees are released at the same time, a severance or early retirement package may be provided. Trimboli & Prusinowski can assist in structuring packages which are best suited for the employees at issue and the situation at hand.