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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