Ontario Severance Pay
Sometimes a company may be going out of business and it needs to let its loyal employees go. There have been times when a company simply fires everyone without any kind of warning or without any kind of severance pay. Losing your job is hard enough, but imagine losing your job without getting any kind of financial compensation? Have you recently lost your job without given any kind of severance pay? Here is more information on what you can do about not getting the compensation you deserve.
Ontario Severance Pay – Factors that go into Severance Pay Calculations
Severance pay is not based really on numbers, but there are particular circumstances that the court system uses to determine what you are entitled to. Here is more information on circumstances used to reach a fair amount for severance pay.
Getting a new job: It takes time to get a new job, and time is the biggest factor that is taken into consideration when it comes to calculating Ontario severance pay. The time it can take a person to get a new job can be drastically different based on that person’s level of skill or type of job that person had. For example, a person that has a specialized job may get more severance pay because he or she had such a unique job, and therefore a person with a rare job will need more time to get a new job.
The time spent at the job you lost: Severance pay is also based on how long you were at your job before you lost it. Men and women that were at their job for an extremely long time may have a lot of trouble finding another job and may be rewarded more severance pay because of this fact.
Age can make a big difference: Courts in Canada often reward severance pay to older employees. Research has shown that people who are a certain age really struggle to find a new job. A person who is over the age of fifty may get rewarded severance pay versus someone who is only thirty. A younger person may not have such a hard time finding a new job, but someone over fifty may really struggle to find new employment.
Sometimes a person loses their job, but gets financial compensation called severance pay. If you did lose your job, but were not given any kind of severance pay then you do have the option of going to court. The Canadian courts do take certain factors into consideration when awarding severance pay such as your job skill, the amount of time you were working for a company, and your age. You were a good employee, and if you lost your job than you may be entitled to some compensation.