An average of $30,000 per employee. That is how much the severance for the Mohegan Tribal Gaming Authority employees at Mohegan Sun will run, as reported. This information is based off a Form 8-K filed with the Securities and Exchange Commission yesterday.
Although yesterday’s filing does not explain whether this is a voluntary severance or one by prior contract, it shows that companies need to consider the costs of terminating workers when looking at a downsizing plan. Employees also should be aware of what, if any, rights they have to severance when being terminated.
Both Connecticut employers and employees should retain counsel prior to a separation in order to negotiate a successful severance.