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Attorney Jim Higgins discusses severance pay in light of recent layoffs, emphasizing that it is usually voluntary and not a guaranteed right unless specified in a contract or by federal law. Employees should ask three key questions: 1) Are they entitled to severance if laid off? 2) What is the severance package? 3) What are the pros and cons of accepting the package? Companies often offer severance as a goodwill gesture, but it is not required by law in most cases. It is important for employees to understand their rights and options in such situations.
