Since WellCare is going through a Merger soon to be Envolve, are many layoffs coming soon for employees who work for CVS and support WellCare? From reading It seems that no one is safe and this is a very uncertain time. If we are like go or laid off is the company required to give a severance or can they just let you go with no severance at all?
This question posted by @1vrx+1a8ljYqQ remained buried among the other threads below, but I'm very interested what you guys think.
The provide severance to avoid lawsuits. It is not done because they care or like you. The cost of a lawsuit to fight it (win or lose) will be more than the severance pay. Plus the potential of class action if enough people sue.
Severance is also done since most of the folks laid off are older workers that have worked very hard over many years to make the company great but have commanded higher salaries.
They call it a business decision to lay you off. Same goes for severance.
The days when there were companies that cared about their employees is long gone. Perhaps that is why I see so many folks that jump ship job to job after a few years.
They aren’t legally required to provide severance , how ever large corporations usually do.