Severance Packages

Laid-off Twitter workers await severance pay, Musk in for legal trouble

Twitter faces multiple suits over unpaid bills, including for private chartered plane flights, software services and rent at one of its San Francisco offices

Twitter must tell fired workers about severance lawsuit, says US judge

Filed by a handful of workers, the suit alleges Twitter failed to give the required 60 to 90 days notice about the mass layoffs and is shortchanging the former employees on severance pay

Laid off? Seek advice before claiming tax exemption on severance pay

You can claim only if the payout is voluntary and you have documentary proof to this effect

Is the Meta Inc severance package a lesson for others?

Meta's move to expel 13% of its workforce comes with a generous severance package. New Indian companies may be ruthless with severance, but are liberal with the severance packages. What's behind this?

Ford India reaches severance package settlement with employee union

Ford India, the subsidiary of United States-based automaker Ford on Thursday said it has arrived at a settlement with the employees union on the severance package following the company's decision to shut its Tamil Nadu plant as part of a restructuring exercise. Accordingly, the company would revise the final severance settlement to an average equivalent of 140 days of gross wages per completed year of service from the ongoing offer of 130 days. "An additional one-time lump sum of Rs 1.50 lakh will also be included in the final settlement." Ford India said in a statement. A cumulative severance package for each employee would range from Rs 34.50 lakh up to Rs 86.50 lakh and the revised settlement would translate to an average of about 5.1 years or 62 months salary for each employee, the company said. Ford India said the formal settlement agreement has been planned to be executed before the end of this month and employees would be notified on the next steps towards completing the ex

Ford India, Unions reach final severance deal for Chennai unit employees

Company will revise final severance pay to 140 days of gross wages per completed year of service, compared with 130 days earlier. A one-time lump sum of Rs 1,50,000 will be paid as well

Ford India offers final severance package for Chennai unit employees

It is on average equivalent to 130 days of gross wages per completed year of service, firm says

Covid-19 crisis: Indiabulls sacks over 2,000 employees to control expenses

The attrition is in line with the process we follow every year, says company

Infosys pays Rs 6 lakh in fees to settle ex-CFO severance payment row

Generally, compoundable offences are those which can be settled by paying certain amount of money