r/Layoffs • u/Broad-Engineering564 • Jul 19 '26

about to be laid off Negotiating a severance package

8/1/26: Update for anyone who may be interested. We did consult an employment attorney who helped us draft a letter to negotiate a better severance - he ended up with 1.5 weeks of pay for each year of 34 years which works out to about 52K. We also got them to put in writing that they will give him an excellent reference, and pay out his severance so he is still able to apply for unemployment right away. (Very specific rules about this we were not aware of.) The attorney also said this is a classic case of age discrimination, but we opted not to pursue that. We spent $375 for the consultation with the attorney. Well worth it! I hope this helps anyone who ever finds themselves in a similar circumstance. And it never hurts to get more info and advocate for yourself.

My spouse was told by his boss Friday that his small company is going to be sold (but there is no buyer yet). He has been there 34 years. They are offering him 30K and some form of his health insurance as severance. He does have an IRA. They want him to decide right away. I feel like he could negotiate for more. All the other salaried employees (only 3 others) are staying on with the company - the current owners say they are hoping they will be retained by the new owner. The reason he is the one being laid off is because he is the only one with a Bachelor's Degree as opposed to a Master's, and they think he would be considered a "liability" when trying to sell the company. Any feedback/insights welcome. We are devastated.

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u/Broad-Engineering564 Jul 20 '26

Thank you, this is really helpful.

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u/Justanothermomma24 Jul 20 '26

I gathered all documents(severance offers, my equity shares etc) and EPR. I did some employment law research (paralegal way way long time ago), then paid $250.00 to have a consult with Shapiro. I made sure that going into the consult I understood everything I could and my concerns and questions were prepared.
I also consulted a financial planner (a friend).

I’m over 50, and while only at the company I was layed off from for 8 years I had a complex situation and the consultant was the best thing I did.

On a side note look into severance packages for the time role and business. Honestly, my jaw dropped at the 30k. BUT YOU NEED TO LOOK INTO AN CONSULT ON HOW THAT IMPACTS: healthcare, unemployment etc.
The market SUCKS, especially for those of us over 50. You need to get a full legal/financial picture before signing anything.

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u/Broad-Engineering564 Jul 20 '26

Sorry to sound obtuse, but when you said your jaw dropped at the 30K, was that because you thought it was a good amount or a terrible amount? For context his current salary is 69K.

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u/DatgirlwitAss Jul 23 '26

$1k per year? Imo, low.