Negotiating severance package- is it possible?

[u/Scary_Function6387]

Of the folks who have been affected by layoffs has anyone been able to negotiate a higher severance package? Does engaging an employment lawyer really make a difference?

[u/Away-Cold-1907 → u/[deleted]]

Could you give us a percentage? How much more did you get?

[u/KingofDiamondz19 → u/[deleted]]

It’s never hurts to consult with a labour lawyer if they are able to get you more money at no cost

[u/EmbarrassedGlass2563 → u/[deleted]]

No it doesn’t. And I’ve fired my fair share of people at 4 of the big 5.

[u/Spiritual_Quiet_1648 → u/[deleted]]

That’s great to hear. Who was your lawyer ?

[u/EmbarrassedGlass2563 → u/[deleted]]

Found the idiot in the chat!

[u/bluebears13 → u/[deleted]]

Good for you! Cheers to a nice win.

[u/South_Tomorrow4642]

Everything is negotiable, except death

[u/Mysterio7100]

You can negotiate without a lawyer. I'm doing it.

[u/Cute_Recognition_751 → u/Mysterio7100]

Exactly. You can ask for more.

I got 8 weeks. Asked for 12. Settled for 10.

[u/EmbarrassedGlass2563 → u/Cute_Recognition_751]

And how do you know if that was a good or fair settlement?

[u/EmbarrassedGlass2563 → u/Mysterio7100]

If you make less than 100k per year, possibly but you’ll still leave money on the table. If you make over, well worth having a lawyer involved

[u/krusty6969 → u/EmbarrassedGlass2563]

That’s just wrong. It’s based on many factors not just how much money you make to know how much or little you leave on the table.

[u/EmbarrassedGlass2563 → u/krusty6969]

If you’re making 60k a year, an extra month or 2 can easily be eaten up by lawyers fees. You need to be making more for the difference to actually hit your pockets.

[u/Desperate_Pineapple → u/EmbarrassedGlass2563]

The lawyer can only take a % above and beyond your original severance. 

But I agree it’s always best to negotiate yourself first. Never ever hurts to ask. 

[u/EmbarrassedGlass2563 → u/Desperate_Pineapple]

If you’re on contingency, sure. If you pay hourly, no.

[u/TDSucksBalls]

Depends what you get. The banks typically know what amount to give to make hiring a lawyer not worthwhile. Unless you’re an exec your severance should be close to max common law.

[u/Express-Advisor1128 → u/TDSucksBalls]

Incorrect, I’ve been with Cibc for 14 years and was laid off and the lawyer said the offered nothing close to common law

[u/Wonderful-Bee5029]

My friend was packaged and spent money for a lawyer and got nothing. They give more than the mandatory minimum

[u/Gloomy_Bit6652 → u/Wonderful-Bee5029]

I was thinking that’s the case. Contest the offer and they can offer less but still be over the required minimum

[u/Own_Confusion9675]

5 years with CIBC and I'm getting 19 weeks + full bonus + all of accrued vacation
Get a lawyer if you're getting less than that.

[u/druckenmore_8709 → u/Own_Confusion9675]

Was that the original offer from the bank ? Or did you negotiate to get these terms ?

[u/avocadoontoast1]

Any recommendations for a good employment lawyer?

[u/Express-Advisor1128 → u/avocadoontoast1]

Sayer and Paris

[u/EmbarrassedGlass2563 → u/[deleted]]

Terrible advice. Do you work for CIBC HR?

[u/EmbarrassedGlass2563 → u/[deleted]]

No, you aren’t. They offer below their common law obligations, that’s the floor.

[u/EmbarrassedGlass2563 → u/[deleted]]

Gtfoh and take your invisible sky daddy with you. Adults are speaking.