Facing Sudden Job Loss: How Can I Secure My Full Notice Compensation?

I have been working with an organization for the past 4.8 months. I have performed very well and was named the employee of the year for 2016, which led to a promotion. However, recently, the management has been on a cost-cutting spree, and just yesterday, they asked me to resign without notice. Although my appointment letter states a 60-day notice period, they are only offering 30 days.

I am unsure about what to do next. Should I submit my resignation agreeing to their terms or request them to terminate my employment? I am concerned about how I can ensure I receive the full 60 days' notice period as compensation. I do not want to lose out on the 30 days' pay, which is rightfully mine, especially since I do not currently have another job lined up. Additionally, I am worried that a termination letter could potentially harm my chances of securing a new job.

I have a meeting scheduled with management today to discuss this issue, and I am feeling quite lost. Your guidance on how to proceed would be greatly appreciated.

Thank you.

Dear Anonymous,

Legally, yes, you are eligible for either 60 days' notice or 60 days' pay as per the terms of your employment. Now, the decision depends on your assessment of the situation prevailing in your company (the probability of the company paying you the full notice pay and the probability of the company victimizing you). Assess and decide between the cost of taking on the company directly versus letting go of 30 days' salary; you are the best judge for this situation.

Shailesh Parikh
99 98 97 10 65
Vadodara

I could gather that you have been asked to resign. The company is bound by the terms and conditions. But if they were to terminate, then it will have a bearing on future job prospects. It all boils down to your negotiation skills. Good luck.

Thank you, guys. (The work tenure is 4.8 years). And yes, I will negotiate hard to get what is rightfully mine. Let's hope it does not come to a point of banging heads.