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    Re company closures with 90 days notice - is there a normal financial settlement for employees with 15 years of service or more?

    is there a chart for settlements?

    +2  Views: 379 Answers: 2 Posted: 13 years ago

    2 Answers

    it all depends on what province or state where you live. in Ontario Canada,

    its a max of 3 weeks per year that you have worked plus a base of 5 weeks

    so 15 = 45 weeks + 5 weeks = 50 weeks.

    Depending on yuor age and your ability to fnid work after this the amount can vary but this is a good start.. good luck
    In the US, there are no hard and fast rules regarding this issue. The company may be nice enough to give everyone a severence pay because of the untimely closure, but if they are going bankrupt that probably won't happen. The only thing for sure is, you can collect unemployment benefits until you can secure another job.


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