Working in an MNC company 'A' for 6 years and 11 months at the Mid-Senior level. The company is closing its office operations citing the widespread impact of COVID-19 and the current pandemic situation, and is transitioning its business to another city where it has another branch dealing with a similar line of business. Some employees have been offered positions at the new location and have received offer letters from the second operational company based in the other city. However, all employees from the initial operation have been issued retrenchment notices.
Future opportunities seem limited due to factors such as age (46), the specialized nature of the industry, and the ongoing effects of the pandemic. In this context, I am the sole earner in my family. How should I approach negotiating the severance/retrenchment package in this situation?
From India, Delhi
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Future opportunities seem limited due to factors such as age (46), the specialized nature of the industry, and the ongoing effects of the pandemic. In this context, I am the sole earner in my family. How should I approach negotiating the severance/retrenchment package in this situation?
From India, Delhi
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As per the Industrial Disputes Act of 1947, the retrenchment compensation is 15 days' wages per year of service and notice pay if no notice is served. Gratuity is also calculated at 15 days' wages per year of service. You are eligible for gratuity as well.
Regards, S. K. Mittal
[Phone Number Removed For Privacy-Reasons]
From India, Faridabad
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56Regards, S. K. Mittal
[Phone Number Removed For Privacy-Reasons]
From India, Faridabad
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