Murphy Makes NJ First in U.S. To Give Severance for Mass Layoffs
Wow. This is great to hear. New Jersey will become the first state in the country to make bigger companies give their employees severance after a mass layoff, according to NJBiz.
It will go into affected in six months, giving those affected one week of severance for every year employeed with the company, hopefully making the transition to a new job a little easier.
The bill was signed into law by NJ Governor Phil Murphy yesterday (Tuesday, January 21st). The specifics are that NJ employers with at least 100 employees have to give the employees they intend to let go 90 days notice (up from 60), when at least 50 employees are being laid off. If they don't give 90 days notice, they'll have to pay them for another four weeks.