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Softening the Landing for Employees Caught in a Reduction in Force
As uncertainties in the economy continue, many law firms are facing the reality of excess capacity. Unfortunately, “right-sizing” a firm generally means laying off valuable employees. The loss of a job can be traumatic even in good times, when an employee can expect to quickly land a new position. But with cuts coming from businesses across the board, the next paycheck may be a long way down the road.
Two provisions included in the new American Recovery and Reinvestment Act of 2009 (“ARRA”), as well as a firm's own severance program, can help these employees bridge the gap until new employment opportunities arise.
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