As Nation is Flooded by Layoffs -- A Tsunami of Severance Packages Hits Career Protection® |
We hate to say "we told you so," but Career Protection's Annual 2008 Layoffs Forecast was correct in its prediction of massive layoffs for this year. Over 1,375 corporate executives nationwide completed the confidential annual survey regarding reduction-in-force plans conducted by the employment law and human resources experts of CareerProtection®.com.
Los Angeles (PRWEB) November 19, 2008 -- Career Protection's® Annual 2008 Layoffs Forecast in January painted an ugly forecast of layoffs for this year, and its prediction was accurate. Over 1,375 corporate executives nationwide completed the confidential annual survey regarding reduction-in-force plans conducted by the employment law and human resources experts of CareerProtection®.com. Career Protection's® Annual Layoffs Forecast© predicted a 37% increase in companies planning layoffs and reductions in workforce this year.
"This was our worst layoff forecast in the past five years, but we never expected the job cut numbers to be this large," says Kirk Nemer, J.D., SPHR, President and CEO of Career Protection®. Major companies which recently announced layoffs include the following: Mattel, Ford, Motorola, Citigroup, Morgan Stanley, Nortel Networks, DHL, Sun Microsystems, Glaxo Smith Kline, HP, American Express, Xerox, PepsiCo, Merck, National City, Yahoo, eBay, General Motors, Starbucks, Whirlpool, Qwest, and Chrysler.
"It is clear that the severance package offers will not be as generous in their severance pay as they have been in the recent past." Nemer added that, "It is more important now, more than ever, to negotiate severance package offers as they're not a 'take-it-or-leave-it' situation."
It is best to have expert employment law advice, since companies force employees to sign a Separation Agreement and Release of Legal Claims in order to receive their severance pay packages. A common mistake regarding severance pay is the belief that it is not open to negotiation. This is not true. Please read "The 8 Biggest Severance Pay Mistakes" at http://www.careerprotection.com/severancepay.html
Career Protection® is a national leader in negotiation of employment issues, including severance pay, employment agreements and separation release agreements. Visit http://www.careerprotection.com to learn more.
About CareerProtection.com:
Career Protection® is the only HR and Legal Solution™ organization dedicated to assisting executives and professionals on a nationwide basis. The company's human resources and employment law experts work to protect the careers and legal rights of their clients.
Kirk D. Nemer, CEO of CareerProtection.com, and employment attorney with over 20 years of legal and human resources experience is available for interviews on many workplace issues and law.
Please contact:
Kelly LaMarche
Vice President of Marketing & Communications
(877) HRLAW-4U (475-2948), extension 620
U.S. is flooded by pink slips—
A blizzard of severance packages hits Career Protection.com |
As nation’s unemployment rate bolted above 6 percent for the first time in five years, employees seek legal advice from Career Protection. Severance pay is not an issue to handle lightly.
New York, NY – Sep 08, 2008 – A professional image and future is not something to be dealt with under terms of inflexibility. Negotiation will always be required when employment or severance agreement terms are being established. This applies both at the beginning and at the end of a professional relationship. It does not matter whether the employee is being hired, fired, laid off or retired. There are always long and short-term issues to be considered and agreed to by both parties.
Where the issue of severance pay is concerned, it is always best to have access to expert legal advice, since companies force employees to sign a Release of Legal Claims in order to receive their severance pay packages. In addition, there is a great deal at stake regarding final payments of salary, insurance, benefits and compensation.
Frequently many professionals enter into employment contracts unaware of the impact of severance pay on their taxes and financial situation. They will often feel pressured to sign a contract right away, but are unaware that federal law provides for an extended period, up to 45 days for legal review, of time for negotiation before a signature is required.
A common mistake of severance pay is the belief that it is not open to negotiation. This is not true. It is greatly beneficial to anyone in the midst of a contract review or employee termination to discuss the terms of any severance pay arrangements if they are going to be damaging to an individual.
Career Protection is a world leader in negotiation of employment issues, including severance pay and separation agreements. Career Protection is the only HR and Legal solution organization dedicated to assisting executives and professionals on a nationwide basis. The company's human resources and legal experts work to protect the careers and legal rights of their clients.
| Annual Layoffs Forecast: 2008 Executive Survey Finds Severe Job Cuts to be Made This Year |
Career Protection’s® Annual Layoffs Forecast predicts a 37% increase in companies planning layoffs and reductions in workforce this year.
New York, NY January 28, 2008 -- Career Protection’s Annual 2008 Layoffs Forecast paints an ugly picture of cuts in jobs for this upcoming year. Over 1,375 corporate executives nationwide completed the confidential annual survey regarding workforce reduction plans conducted by the employment law and human resources experts of CareerProtection.com this month (Survey conducted January 2-25, 2008).
“This is our worst layoff forecast in the past five years for employees, as corporations appear ready to slash staff and layoff workers,” says Kirk Nemer, J.D., SPHR, President and CEO of Career Protection®.
“The only good news provided by Executives and Senior Vice Presidents in our survey was that companies were planning to provide severance pay during these difficult and stressful times,” Nemer stated. “However, it appears the severance packages will not be as generous in their severance pay as they have been in the recent past.” Nemer added that, “Employees should negotiate their severance package offers as they’re not a ‘take-it-or-leave-it’ situation. Companies will still require employees to execute a General Release of Legal Claims in exchange for receiving a severance package, so companies will negotiate its terms to obtain one from employees.”
Career Protection has been inundated this month with telephone calls from employees at Bear Stearns, Chrysler, Citigroup, Covidien Healthcare, Ford, GM, Indy Mac and Sprint Nextel, who have announced plans for reductions-in-force in January.
Kirk D. Nemer, CEO of HR on your side, Inc./CareerProtection.com, and employment attorney with over 20 years of legal and human resources experience is available for interviews on many workplace issues and law.
Please contact:
Kelly LaMarche
Vice President of Marketing & Communications
(877) HRLAW-4U (475-2948), extension 620
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| Citigroup
to Cut 17,000, Employees Seek Counsel from Career
Protection |
Citigroup's announcement that it will lay
off thousands has flooded Career Protection’s®
offices with thousands of phone calls and website
inquiries from employees seeking counsel and negotiation
advice about severance pay packages. Career Protection®
has helped hundreds of professionals who have been
laid off, outsourced, or terminated obtain substantial
severance packages.
Los Angeles, CA , April 18, 2007 -- Citigroup Inc.’s
announcement last week has flooded Career Protection®'s
offices with phone calls and thousands of website
inquiries from management and employees asking about
their severance
pay packages. The nation's largest
financial institution sent shock waves through its
workforce by stating it will eliminate 17,000 jobs,
and shift 9,500 positions to “lower-cost locations”.
Even with good severance offers, senior executives
and professionals don't know what else to ask for
or how to negotiate the agreements.
"Hundreds of employees and middle-managers
are calling us and asking what they can do about
their anticipated severance packages. Many educated
executives and professionals believe that severance
packages cannot be negotiated," says Kirk Nemer,
president of Career Protection ® and employment
negotiations legal advisor to professionals.
"Many professionals have excellent
opportunities to negotiate a severance package,
but continue to believe that severance pay is a
'take it or leave it' situation and make the mistake
of signing Separation and Release of Claims agreements
with restrictive covenants written by, and for,
the company without even thinking about the impact
on their future careers," Nemer states.
"Even with good severance offers, senior executives
and professionals don't know what else to ask for
or how to negotiate the agreements."
Career
Protection®'s human resource and legal experts
offer a unique program to executives and senior
professionals so they achieve the best employment
agreements and enhanced severance pay packages as
they enter or exit a company.
"Career Protection®'s experts showed me
how to negotiate with a large company's human resources
department and ask for benefits I would have never
thought about obtaining," Sheila Lofton, former
executive of Colgate-Palmolive, says. "They
guided me to a successful resolution without legal
escalation."
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| Donald
Trump Says 'You're Fired' and Now Former Trump
Executive Vice President Needs Severance Package
Negotiations Expert |
Career Protection will provide free
consultation and expert severance pay negotiations
advice for ‘Apprentice’ co-star and
longtime employee of the Trump Organization.
New York, NY (PRWEB) September 5, 2006 -- Carolyn
Kepcher, who sat beside Donald Trump during many
employment terminations on the ‘Apprentice",
had the boardroom table turned on her and has been
let go. Kepcher, a co-star with Trump from the start
of the ‘Apprentice’ and Chief Operating
Officer of two of Trump’s golf courses, has
been offered severance pay package negotiation advice
by the employment law and human resources experts
of CareerProtection.com.
"The shock of her dismissal reported Friday
proves that anyone, even a longtime star performer
of a company, can have their employment
terminated
without notice, for any reason, and at any time.
Kirk Nemer, J.D., SPHR, President and CEO of Career
Protection®, has offered Ms. Kepcher his employment
law expert negotiation advice for her severance
pay package.
"Executives and professional employees need
expert advice and counsel on their side during such
difficult and stressful times," Nemer stated.
"Severance pay and packages must be negotiated
as they are not a ‘take-it-or-leave-it’
situation," Nemer added.
Nemer said that "companies want a General
Release of Legal Claims in exchange for a severance
package, and will happily negotiate its terms to
get one". "We would like to assist Kepcher
with a severance pay negotiations strategy that
would enable her to get the best severance package
from the Trump Organization," Nemer adds.
For more information on how executives and professionals
can receive a severance pay negotiations strategy
and free consultation to protect their career and
financial future, visit http://www.CareerProtection.com
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| Career
Protection® Passes Milestone with its
2,000,000 Inquiry from Employees Seeking Negotiation
Advice About Employment and Severance Agreements |
Career Protection®
has helped hundreds of executives and professionals
who have been laid off, outsourced, or terminated
obtain substantial severance pay packages.
New York, NY (PRWEB) March 8, 2006 -- Career Protection,
a leading national provider of employment negotiations
advice, announced today that it has received over
2,000,000 inquiries from employees worldwide seeking
advice regarding employment and severance agreements.
The human resource and legal experts at Career Protection
® have protected the careers of professionals
throughout the United States, Canada, and
Europe by creating employment agreements
and significant severance pay packages for executives
and professional clients as they enter or exit a
company.
“In today's world of layoffs, outsourcings,
reductions-in-force, firings, and forced early retirements,
almost all working Americans fear losing their jobs.
People protect their homes, cars and personal property,
but they don't know how to protect their careers
which pays for everything they own,” says
Kirk Nemer, J.D., SPHR, President and CEO of Career
Protection®. Instead of people worrying about
their jobs, Career Protection® will guide
them on how to protect their employment, compensation,
benefits, and their careers within the corporate
world through human resources and employment law
negotiation plans.
With Career Protection’s ®expertise
in HR and law, and corporate inside knowledge, their
advice empowers people to take a proactive approach
to positioning themselves for career success and
maximizing their personal value without legal escalation.
Career Protection has proven that through negotiation
coaching and a step-by-step success plan for any
employee to follow, people can avoid hurting their
career and financial future whether they expect
to be hired, fired, laid off or retired.
“After nearly 20 years as an employment attorney
and a Vice President of Human Resources for Fortune
500 and global corporations, I negotiated with hundreds
of executives and professionals on behalf of companies.
From new hire employment agreements to severance
pay and retirement packages, I was an eyewitness
to employees being taken advantage of by corporations
during the negotiation process at the time of being
hired, fired, laid off, or retired,” stated
Nemer, President and CEO of Career Protection®.
“I was amazed at how many executives and senior
professionals would willingly agree to poor contracts
and lesser compensation/benefits packages, which
waived their legal rights and gave money away. These
employment agreements and severance packages would
hurt their careers years later as the employees
agreed to terms and covenants that decreased their
financial future and restricted their careers. They
did this because they did not know what to ask for,
and/or, they were afraid to ask,” Mr. Nemer
added.
For more information on how executives and professionals
can prepare a negotiations strategy and get a significant
severance pay package or job offer, visit http://www.CareerProtection.com
About Career Protection®
A leading national provider of employment negotiations
advice, the human resource and legal experts at
Career Protection ® have protected the careers
of professionals throughout the United States, Canada,
and Europe. Career Protection has negotiated hundreds
of employment agreements and severance pay packages.
If you have any questions regarding information
in these press releases please contact the company
listed in the press release. Please do not contact
PR Web. We will be unable to assist you with your
inquiry. PR Web disclaims any content contained
in these releases. Our complete disclaimer appears
here.
for executives and professional clients as they
enter or exit a company. Career Protection’s
HR and legal experts have previously served as Vice
Presidents of Human Resources, Directors of Human
Resources, Corporate Counsel/Attorneys, or Recruiters
for many Fortune 500 and Global Corporations. For
more information, contact Career Protection or visit
their website at http://www.CareerProtection.com
For Further Information Contact:
Scott Baker, Vice President, Public Relations
Phone: (877) HRLAW-4U (475-2948), extension 801
Contact Information
Scott Baker
Career Protection®
http://www.CareerProtection.com
877-475-2948 +801
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| Recent
Bankruptcy Filing Leads Concerned Executives
and Employees to Seek Counsel from Career Protection® |
Delphi's bankruptcy filing just one
day after providing executives with sweet severance
deals has flooded Career Protection®'s offices
with thousands of phone calls and website inquiries
from employees seeking counsel and negotiation advice
about severance pay packages. Think that severance
packages are just for a few executives at the top?
Think again -- Career Protection® has helped
hundreds of professionals who have been laid off,
outsourced, or terminated obtain substantial severance
packages.
Denver, CO (PRWEB) October 11, 2005
-- Delphi Corp.'s bankruptcy filing Saturday has
flooded Career Protection®'s offices with
phone calls and thousands of website inquiries from
employees asking about their severance pay packages.
The nation's largest auto supplier's bankruptcy
filing sent shock waves through its 50,000 U.S.
employees. Delphi, No. 63 on the 2005 Fortune 500
list of the country's largest corporations, has
185,000 employees worldwide.
"Hundreds of employees are calling us and
blasting Delphi's decision to file for bankruptcy
just one day after sweetening the severance packages
of 21 top executives. So many educated executives
and professionals believe that severance packages
are rarely provided, or, cannot be negotiated,"
says Kirk Nemer, president of Career Protection®
and employment negotiations legal advisor to Fortune
500 professionals. "Delphi's recent severance
packages have proven that even bankrupt companies
will provide generous severance and separation benefits,
and they can be obtained by any employee."
The human resource and employment law experts at
Career Protection® have recently been inundated
with calls and website inquiries from employees
of other recently bankrupt filing companies, such
as Delta and Northwest Airlines.
"Many professionals have excellent opportunities
to negotiate a severance package, but continue to
believe that severance pay is a 'take it or leave
it' situation and make the mistake of signing separation
release agreements with restrictive covenants written
by, and for, the company without even thinking about
the impact on their future careers," Nemer
states. "Even with job offers, senior executives
and professionals don't know what to ask for or
how to negotiate them."
Career Protection®'s human resource and legal
experts offer a unique program to advise executives
and senior professionals so they achieve the best
employment agreements and considerable severance
pay packages as they enter or exit a company.
"Career Protection®'s experts showed
me how to negotiate with a large company's human
resources department and ask for benefits I would
have never thought about obtaining," Sheila
Lofton, executive of Colgate-Palmolive, says. "They
guided me to a successful resolution without legal
escalation."
For more information on how executives and professionals
can prepare a negotiations strategy and receive
a significant severance package or job offer, visit
www.CareerProtection.com.
About Career Protection®
A leading national provider of employment negotiations
advice, the human resource and legal experts at
Career Protection® have protected the careers
of professionals throughout the United States, Canada
and Europe. Career Protection® has created
hundreds of employment agreements and significant
severance pay packages for executives and senior
professional clients as they enter or exit a company.
Career Protection®'s HR and legal experts
have previously served as Vice Presidents of Human
Resources, Directors of Human Resources, Corporate
Counsel/Attorneys, or Recruiters for many Fortune
500 and Global Corporations. For more information,
contact Career Protection® at info@careerprotection.com
or visit their website at http://www.CareerProtection.com.
For Further Information Contact:
Scott Baker, Vice President, Public Relations
Phone: (877) HRLAW-4U (475-2948), extension 801
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