First Reference company logo

First Reference Talks

News and Discussions on Payroll, HR & Employment Law

decorative image

rule of thumb of one month of notice per year of service

Can’t afford to keep them, can’t afford to fire them: Poor finances do not reduce termination obligations

Employee salaries and benefits can be some of the greatest costs borne by a business. As a result, when a company faces financial hardship, they will often terminate positions to reduce their costs. However, many employers may not realize that the obligation to provide reasonable notice of termination could negate any short-term cost savings they hoped to realize.

 

, , , , , , , , ,