Larger employers, having been in business long enough to get large and having had the unpleasant task of terminating employees they don’t like, understand that unless there is just cause for the termination, it has to provide an appropriate severance package. That package would be based on the employee’s age, level of responsibility and seniority.
The only thing for sure in life is death, taxes and the fact that sooner or later your workplace will be ‘restructured’.
This letter confirms our conversation of today’s date wherein we advised you of the termination of your employment effective immediately. We are prepared to provide you a severance package as follows:
- We will provide you with two weeks’ pay in lieu of notice plus two days per year of service severance as required by the Canada Labour Code;
- In addition to the amount provided in 1 above, we will continue to pay you your regular salary of $60,000.00 per year until March 22, 2012 or the date you find new employment, whichever occurs first. If you find new employment, we will cease the salary continuance and pay you a lump sum amount equivalent to 50% of the remaining payments. In total, the above offer provides you with a potential severance amount of $120,000.00 plus other consideration.