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Recently, many individuals have been laid off from companies like Gap, Dropbox, and Lyft, often receiving severance packages. Yahoo Finance contributor Mandy Woodruff Santos explains the possibility of negotiating aspects of these packages. While severance is not a legal requirement, it is becoming more common for companies to offer it to ease the departure of employees. The primary concern for employees is whether they can negotiate the amount of severance received. The ability to negotiate depends on the size of the company and the specific circumstances of the layoff, indicating that there are both advantages and limitations in the negotiation process.
