wrong.
high level people that have sucked have been “let go” and been paid off to leave the company. they buy out the remainder of their contract b/c they were guaranteed x over x years and that was protected in the contract.
there are people that are downsized out (fired, terminated, free to pursue other career interests at other companies) for various reasons, and are offered buyouts, severance packages based on length of service.
i know most people think fired is a term for a problem employee being let go, as opposed to one that is downsized out but not for negative reasons, and there may be different protocols for their departure, but from the worker’s point of view, fired or reduction in force casualty, both mean you’re not working there anymore.
I would take my comment out of the contracts discussion. I have no experience there.
But in Texas and Alaska, our HR departments had me treat fired very differently than laid off. Fired was right now, no severance. Laid off was with pay or early warning, etc.
Bid difference for collecting unemployment, as I understand it.
http://jobsearch.about.com/od/firedtermination/qt/fired-laid-off.htm