As Verizon’s AOL unit merger over Yahoo takes effect, thousands are expected to be laid off. The communications behemoth will be merging departments like human resources, finance, marketing and general administration and would have obvious overlap. They estimate that about 2,100 people in both the New York and California offices would be in redundant positions as the union finishes taking shape.
With layoffs in larger companies, it may be common to receive some sort of severance package that your employer may ask you to sign. Severance agreements will generally provide an employee with additional compensation in exchange for the release of any and all claims that may have arisen during their employment. For this reason it is extremely important to understand the agreement before signing.
While many employees believe that they have no choice but to accept the offer and sign the severance agreement, consulting with an employment lawyer may help shed light on a potential claim they may have missed like unpaid wages, unpaid overtime, discrimination, wrongful termination, or sexual harassment. By doing so, you may be able to negotiate a better package or bring a lawsuit to enforce your rights.
If you have experienced a layoff and have been offered a severance package, you should contact one of the employment lawyers of Fitapelli & Schaffer, LLP. We offer a free phone consultation to help determine if it is a matter we can assist you with. You may have a viable claim which must be determined prior to signing a severance package. We can be reached at (212) 300-0375 or visit our website fslawfirm.com for more information.