If you work for a company in dire financial straits, then insolvency layoffs are a reality, as is a bankruptcy. You will want to read this article carefully so you understand your rights.
You have just been let go by your employer. This is going to impact you financially and without doubt, you are in for a stressful period ahead. If they offered you Notice and Severance, it is time to take a very close look at the details. These payments represent a financial bridge until you are employed again. In order to make sure you do not leave money behind, you need to understand your legal entitlements.