If you are an employee at a company with a formal employment contract, it is critical that you understand all of the terms of your contract. This can help you ensure you get everything you are legally entitled to from your employer, as well as help protect you in the event you are fired or get into some other employment-related dispute. Here are seven important terms you should know in your employment contract:
While some people are fired from their jobs without any warning, most people can at least see the signs in advance. Even if the prospect of losing your job can be daunting, you can use it as an opportunity to negotiate your firing, and to minimize the harm that getting fired will do to you and your family. Here are five tips to help you if you are facing the prospect of getting fired: Continue reading “Five Tips to Prepare for Your Firing”
Vox reported that employees of the department store Sears were let go after the retailer announced it was shutting down its stores. Many store associates were told they would receive an eight-week severance package, but, according to the article, after two weeks, the checks stopped coming after Sears announced it was filing for bankruptcy. Meanwhile, Sears executives were allowed to collect $25 million in bonuses after the filing, according to the Chicago Business Journal.
Continue reading “Workplace Closures and Severance Pay”
By now every employer, employee and individual is aware of the U.S. recession. Although the nation is in recovery, there are still consequences of the protracted recession. Due to the recession, employer contributions to the New York State Unemployment Insurance Fund have been insufficient to cover the benefits paid out to individuals. As a result, the Unemployment Insurance Fund is grossly underfunded, which has required New York to borrow $3.5 billion from the federal government. In order to repay this loan and avoid significant interest charges, New York has recently enacted a number of “reforms” that are expected to save the state $200 million.