New York Severance Pay Lawyers
How to Calculate Severance in New York
When presented with a New York severance agreement from your employer, it can be confusing to know what, exactly, they are asking you to sign. It is a good idea to have any NY severance package reviewed by an experienced employment attorney before agreeing to it without requesting changes. Our New York severance lawyers are skilled attorneys with years of experience in severance agreements. We can help review and negotiate your New York severance documents to protect your rights while ensuring the maximum benefit to you.
Easy 4-Step Process
Call us or fill out a contact form.
Our office will schedule a date and time for the meeting (either in person, Zoom or by phone). All meetings can be scheduled within 24 hours.
Our severance package lawyer will conduct a thorough review of the agreement before discussing it carefully with you and answering your questions.
Our attorneys will send you a detailed email regarding any changes, revisions, or other items that need addressing with your previous employer. You will then have the option to negotiate with your employer directly on your behalf to retain us to negotiate for you to try to improve the terms and amount of severance pay.
New York Severance Review & Negotiation
When you receive a New York severance agreement it is in your best interest to have an attorney review the document before signing. A thorough review of the severance agreement by an experienced New York employment attorney will help you receive the greatest benefits available.
Our New York severance lawyers are skilled attorneys with years of experience in severance agreements. They can help review and negotiate your severance documents to protect your rights while ensuring the best benefit to you.
We have received several awards and accolades from our peers and have been listed as some of the best employment lawyers. Since 2006, our lawyers have been included in:
- Super Lawyers List for Employment Law
- Super Lawyers Rising Stars for Employment Law
- Corporate Intl Magazine as an Employment Law Firm of the Year for 2010 and 2012
- AI Business Team Excellence Awards as a 2015 Employment Attorney of the Year
- Top 40 under 40 Lawyers
Our New York attorneys’ experience and skill will allow you to thoroughly understand your New York severance agreement and give you the peace of mind that you are receiving everything you can in severance.
Servicing New York Communities
- New York City Counties (Boroughs); New York (Manhattan), Kings (Brooklyn), Queens, Bronx, and Richmond (Staten Island)
- Albany County
- Allegany County
- Bronx County
- Broome County
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- Cayuga County
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- Chenango County
- Clinton County
- Columbia County
- Cortland County
- Delaware County
- Dutchess County
- Erie County
- Essex County
- Franklin County
- Fulton County
- Genesee County
- Greene County
- Hamilton County
- Herkimer County
- Jefferson County
- Kings County (Brooklyn)
- Lewis County
- Livingston County
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- New York County (Manhattan)
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- Richmond County (Staten Island)
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- Al W.
This law firm helped me achieve the results that I needed. Would recommend Paul to anyone that feels as though they have been wronged and need legal guidance and assistance.
- Wendy G.
My experience with Severance Lawyers was excellent. They gave my case all the time and attention that was needed to be successful. They were a calming and confident presence during a difficult and uncertain time for me. Their guidance was outstanding at all times, prompt, professional, timely and open for calls and quick updates. They invested the time to work through all of my questions and issues. I can’t thank them enough and would hire them again.
- Michelle M.
Tom and his staff understand the law very well. They are quick to return calls, take the initiative, and explain things in a way I can understand. From start to finish Tom was there to help me out every step of the way with our case. I am glad to have Tom and his team on my side. I simply cannot thank them enough!
- Tucker W.
I found myself in a challenging & stressful situation that required legal representation and their attorney Paul Castronovo handled it beyond my expectations. Paul is incredibly experienced/knowledgeable and I just felt like I was in good hands the entire time. Paul has a calming demeanor too–which is helpful in these stressful situations. Paul helped turn my lemons into lemonade.
- Sweta M.
Tom McKinney’s prompt attention, articulate and comprehensive advice addressed my Employment Agreement related issue. His confidence shined through instilling the confidence in me and peace of mind having him by my side. If you’re dealing with the proverbial ‘blood sucking’ company, look no further than Tom’s voice of reason.
- Austin S.
Going to Tom and his team for my case was the best decision I made. He was professional and knowledgeable in employment law. He helped me reach a resolution and I could not recommend him enough for anyone else out there.
- Sean C.
Tom McKinney is one of the best attorneys that I know…whether to negotiate on your behalf or reviewing your agreement to make sure you are getting maximum value for your compensation. From stock options to deferred compensation. I have referred him to friends in NJ and NY.
- Joe K.
I had Tom review my severance agreement. He provided a lot of valuable insight. I was able to go back to my employer with various points and double my package. Tom was prudent in having me use his services (told me to go back to my employer before fully engaging him) and I did not overpay when not needed. Other lawyers could have easily taken advantage of my situation and over-lawyered the situation.
How long do I have to sign the severance documents?
When companies terminate employees and provide a severance package, the goal of the severance is to benefit both the company and the employee. Therefore, the employee has time to review the agreement. Review timelines depend on employee age and the number of people terminated simultaneously.
- Employees under the age of 40 – No set time frame, but it must be reasonable and ample enough to review and understand the components.
- Employees over the age of 40 – 21 days to review and sign and 7 days to reconsider and revoke your signature.
- Multiple terminations at once – 45 days to review and sign and 7 days to reconsider and revoke your signature.
How is severance pay calculated?
Several factors go into severance pay amounts. Employees in higher management positions may receive additional benefits like longer pay terms, office equipment, or medical benefits.
Typical payouts can last up to 26 weeks and go by the following calculations:
- Hourly Employees: Number of years with company X 1 week of regular pay = Severance Pay $ Total
- Salaried Employees: Number of years with company X 2 weeks of regular pay = Severance Pay $ Total
Am I entitled to severance pay?
No, most companies provide a severance agreement when they lay off or fire an employee. Offering a severance package is entirely optional for the company. Most companies only do it to protect themselves from future lawsuits, the employee going to a competitor company, or adverse claims from the employee. The company takes multiple factors into account when preparing the packages.