I am sorry this happened to you! Hopefully you can find another position soon.
Is the 5 month package better than unemployment or are they asking that you take their package and sign-off on any further compensation? Be careful sounds as if they will do whatever it takes to save a buck. I would check, you may be better filing for unemployment which may last longer than their five month deal after which you may not be able to file for the unemployment.
I asked if after the 5 months they would deny my unemployment claim. The HR guy said no. But, when I asked him if it was in the agreement, he said it wasn't.
Since I know the owner very well and truly do not trust the guy, I know I am going to have to get an attorney.
I bet you nailed it.
I bet they are offering a sweet severance package in exchange for waiving unemployment benefit claims.
But still - if unemployment insurance paid 1/2 of your monthly pay, then 5 months of full pay is still better than 12 months of unemployment.
Asssuming unemployment benefits are 1/2. YMMV.
I know how this feels Volunteer, I was laid off after 20 years, not that I didn't see it coming.
In my State you can file for unemployment (and should immediately), but would receive no compensation before the 5 months that you are still receiving a paycheck; vacation pay is also a consideration.
You would have to report earnings during that time, but after the five months (+ 3 weeks, I think), if you are still unemployed, you would begin receiving benefits. If you don't file immediately however, it may reduce your benefits.
Because I am in Texas, it never took me more than a month to become employed, I wish you the same luck.
You can draw unemployement even with a severance package. Hard to believe it, but it’s true.