Career Protection, an agency that offers employees counseling on negotiating better benefits, severance pay, and retirement packages, has released its Annual Layoffs Forecast for 2008, and it ain’t pretty.
Over 1,375 corporate executives nationwide completed the confidential annual survey regarding workforce reduction plans (Survey conducted January 2-25, 2008). And the results yielded a 37% increase in companies planning layoffs and reductions in their workforce this year – the worst such forecast in five years.
With the economy on the verge of a recession, if it isn’t already there, grim layoff news is not a surprise. However, now is an excellent time to remind you that in some cases, severance packages are negotiable. Upon accepting one, a company will expect you to sign a General Release of Legal Claims in exchange for the package, this is your leverage.
While we’ve never personally used Career Protection or similar services, with the job market in a state of flux, now is as good a time as any to learn about negotiating a fair severance package.
I’ve always left gigs on my own accord. Let’s hope it stays that way.