Legal compensation related to the termination of an employment contract (i.e. severance pay and severance pay) does not in principle apply to valid termination contracts. Nevertheless, the parties can agree on another plan for the payment of such compensation. In addition, when considering the “reasonable benefit” criteria, the Supreme Court ensures that additional compensation and payments are made as a factor affecting the validity of a reciprocal termination agreement. Unlike the structure of a good work reference, an end-of-work contract must follow government laws and regulations to be effective. Continue reading to see what are the pros and cons of a joint dismissal. For employees over the age of 40, the release of rights is particularly complicated. The Protection of Older Workers Act (OWBPA) requires an employer to include certain provisions in order to make valid the release of rights to discrimination on the basis of age. Some important provisions include the right to review the release for 21 days before having to sign it and the right to revoke the contract within seven days of the signing date. If your employer is applying for permission in exchange for special discount benefits available to a group of laid-off workers, some statistical information must also be provided to you. You are strongly recommended to have such a publication verified by a lawyer before signing it. You should not publish this: if they officially report that your position has been eliminated, shouldn`t you be able to use it in interviews? “My position was eliminated during a restructuring, but I am actually grateful for the possibility of finding a position that better matches my abilities,” etc. Keep the explanation short and sweet and say what you`ve learned, what you`ve done to improve yourself, what your career goals are, etc.
“Mutually parted ways” sounds like a romantic separation and it`s not exactly a more common reason to leave, it`s confusing. Why not go with what officially happened and skip the whole explanation? A termination contract is an agreement on which both parties, employers and workers, agree to end a period of employment. On the other hand, getting fired is a unilateral decision. When an employee decides to quit his job and give his opinion, he makes a unilateral decision. Even if the other party does not want to be fired or lose an employee, layoffs or layoffs are effective means of terminating the employment without the other party agreeing. On the other hand, an amicable termination will only take effect if both parties agree on their terms.