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severance agreements Archives

CBS CEO severance package instructive

CBS CEO Les Moonves resigned on Sept. 9 after numerous sexual harassment allegations. Despite these serious charges, he may leave the network with a $120 million severance package. It is reported that CBS will donate $20 million of his financial settlement to organizations that support the #MeToo movement. His departure also provides important lessons about the importance of severance agreements.

Tips on getting the best severance agreement

Employers may offer severance agreements to smooth the departure for terminated employees. In return for certain benefits, however, the soon-to-be former employers want important concessions. Employees can increase their bargaining power by taking certain actions to help assure a softer financial landing after a job loss.

Negotiating a good severance package

Labor laws usually do not require any severance package or severance agreements for employees. Those who are terminated for cause or at-will or low-level employees have less opportunities for receiving severance. There are several recommendations for negotiating a better agreement, according to the AARP.

Representing professionals in negotiating severance agreements

A previous post on this blog talked about how, in the professional world, severance agreements are becoming more and more common when a professional employee, like a doctor, business executive, accountant or other professional, leaves his or her place of employment.

Overview of severance agreements

No salaried employee in the greater Harrisburg area or, for that matter, in any other part of Pennsylvania ever wants to be called in to their office's human resources department to discuss impending "cuts" or, more specifically, the involuntary termination of their employment. Unfortunately, though, in the modern economy, losing one's job is more and more a reality that most workers will deal with at least once.