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There is a significant wave of layoffs in the tech sector, and it's important to understand severance pay if you find yourself affected. Severance is not legally required in most cases; companies may offer it to limit their liability. Accepting severance usually means signing a waiver relinquishing your right to sue. There is no standard severance amount, but a fair range is typically two to four weeks of pay for each year of service. Be cautious: if you believe you have a legal claim against your employer, consult a lawyer before accepting severance. Accepting a severance offer could prevent you from pursuing potentially larger claims against the company.