In the world of business, challenges come in various forms, and one that inevitably crosses the path of every business owner is the matter of employment severance. Understanding your obligations and rights when it comes to severance pay is very important. In this guide, we'll simplify the complexities of severance pay. Whether you're an experienced business owner or just starting out, grasping these essential concepts is fundamental for the sustained success of your enterprise.
The Ontario Superior Court of Justice just decided that an employer terminated a 65-year-old long-term employee without the proper amount of notice or severance. As a result, the employer had to pay hefty damages, interest and costs award
Last month I was consulted by a woman with respect to a new employment agreement that she wanted reviewed. The employment opportunity presented to her was by a company that had purchased the software company she was currently employed with for the past 19 years. Her salary remained the same, as did the total of her bonus, although the bonus structure was altered to reflect seemingly unattainable goals. While the new bonus structure did in fact reflect the purchasing company’s exact bonus structure with all of its existing employees, this arrangement was originally her main concern.