This is trending right now and I heard many 121s were already sent. So wondering if you’d share what severance packages look like in Canada, Toronto based if possible!
Thank you
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Does anyone know which department(s) in Canada are getting hit?
@a7 yes I heard that too but not sure about the number of weeks. Good thing the take tenure, age into consideration, that’s common law practice.
@a6 lol no not the severance pls!!
From what I hear, it's definitely more than a week per year but it's what you can negotiate. It also depends on how long you've been there, how old you are etc.
Hopefully someone can give a real world example.
I'm not in Canada but I think it's the same as here in the US: 60 days plus one week for every year you've been with the company. I'm sure Canada also mandates that employers also payout unused vacation.
(Now, if you want to make a joke with your colleagues, you can tell them that we're going to tariff your severance 100% so we're going to keep all of your deserved money.)