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Real Estate
Reply to "Ethical obligation: should company verify employment for mortgage if employee will be laid off in near future?"
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[quote=Anonymous][quote=Anonymous]Situation sounds weird. Why would any company keep an employee for months if they already have decided to lay them off? Companies usually just lay the person off, and pay for one pay period beyond the layoff date (in lieu of giving WARN Act's advance notice). [/quote] Restructuring a company takes a while. They need to know how many people they will need to keep post-restructuring to continue core functions and lines of business. It's not uncommon for folks in white collar services to be told that they will be laid off in the New Year, but we need you these X months to finish Y projects/objectives. They make severance contingent on completion of certain tasks. In the meantime, they expect you to apply for new jobs and - best case scenario - you land a new job before the layoff date so the company does not need to pay severance and unemployment. [/quote]
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