Severance Package

[arkom]

I have seen this topic on here before but my situation is a little different from what I have seen.

My company (US based) has decided to relocate some their operations outside of Thailand, this in turn will affect a few employees including myself. We were told that we will be offered a new position, relocation or a severance package.

The only option given to me was the severance package, and was told that I am not being let go based on my performance but simply my position will no be available. During the the discussion about my severance package they kept assuring me that I am not being fired but my position is no longer available. This made me wonder if I am getting short ended on the package offered to me.

I have been with the company for about 1 1/2 years, the package offered to me was 5 months salary plus the year end bonus prorated at 50%. I was wondering under the circumstances does this seem like a good offer?

Edited May 19, 2011 by arkom

[Soutpeel]

Seems fair enough to me, actually in some respects generous...ie after 1.5 years been given 5 months pay and year bonus pro-rata

[CharlieH]

I think the term you are looking for here is "redundant" and under the circumstances and given your length of service the offer is excellent in my opinion.

[CWMcMurray]

As others have mentioned... it seems like a pretty good deal given the short time that you have been with the company.

[arkom]

Thanks for the comments!! I do see that it is a good offer!

[bino]

According to the labour law, I believe that you would be entitled to a month of notice and only one month severance pay for service between one and two years.

Take the money and run!!!

[mrtoad]

Yes, a very good offer.

Enjoy a month or so off

[Kalbo]

After only 1 1/2 years, they're being very generous with that offer.

[Carib]

Take it! Look at the Thai law, they are generous.

http://www.bia.co.th/013.html

[QED]

Off topic but vaguely related, a friend was due to complete 2 years service with his company at the end of this month. 1 week ago he was 'let go' as the company was not doing well financially and he has a large salary.

Question: will the 1 month required notice take him past the 2 years, and therefore entitle him to 90 days severance pay? To me it seems like a cynical move on the company's part to try to avoid this 90 day payment, but in my mind they left it too late.

[Soutpeel]

Off topic but vaguely related, a friend was due to complete 2 years service with his company at the end of this month. 1 week ago he was 'let go' as the company was not doing well financially and he has a large salary.

Question: will the 1 month required notice take him past the 2 years, and therefore entitle him to 90 days severance pay? To me it seems like a cynical move on the company's part to try to avoid this 90 day payment, but in my mind they left it too late.

He would be entitled to 3 months serverance irrespective and if I remember my regulations correctly the rule is for 90 days is at least 1 year but less than 3 years

[QED]

Off topic but vaguely related, a friend was due to complete 2 years service with his company at the end of this month. 1 week ago he was 'let go' as the company was not doing well financially and he has a large salary.

Question: will the 1 month required notice take him past the 2 years, and therefore entitle him to 90 days severance pay? To me it seems like a cynical move on the company's part to try to avoid this 90 day payment, but in my mind they left it too late.

He would be entitled to 3 months serverance irrespective and if I remember my regulations correctly the rule is for 90 days is at least 1 year but less than 3 years

Yes you are right, sorry. Had it in my head it was 2 years...