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Termination of employment or separation of employment is an employee's departure from a job and the end of an employee's duration with an employer. Termination may be voluntary on the employee's part ( resignation ), or it may be at the hands of the employer, often in the form of dismissal (firing) or a layoff .
The redundancy compensation payment for employees depends on the length of time an employee has worked for an employer which excludes unpaid leave. If an employer can't afford the redundancy payment they are supposed to give their employee, once making them redundant, or they find their employee another job that is suitable for the employee.
United States labor law sets the rights and duties for employees, labor unions, and employers in the US. Labor law's basic aim is to remedy the "inequality of bargaining power" between employees and employers, especially employers "organized in the corporate or other forms of ownership association". [3]
Voluntary redundancy is when an employer asks an employee to agree to terminate their contract, in return for a financial incentive.
Some employees may have rights under the common law that are greater than the rights to notice of termination (or termination pay) and severance pay under the ESA. An employee may want to sue their former employer in court for wrongful dismissal ".
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Voluntary redundancy (VR) is a financial incentive offered by an organisation to encourage employees to voluntarily resign, [1] typically in downsizing or restructuring situations. The purpose is to avoid compulsory redundancies or layoffs.
The new CEO bought info-tech consulting firm EDS in 2008 and decided to dismiss 24,600 "redundant" employees. The world's largest tech company also let go almost 6,000 workers in 2009 as it ...