According to a report in the AJC, Atlanta-based UPS is offering buyouts, or severance packages, to selected management employees to trim its workforce.
It is unknown how many managers may receive an offer, and the offers will vary, but may include cash, certain benefits, as well as job placement assistance to help the departing employee find a new employer.
If you are evaluating a severance offer from an employer, be sure that you fully understand it before signing. Often, these packages may include waivers of claims against the employer, and may also include so-called restrictive covenants, such as covenants not to complete, covenants not to solicit clients or employees, as well as confidentiality provisions. These types of contractual terms can often be enforced in court, and there can be penalties for non-compliance.
Before you sign any severance agreement, review the terms carefully, and, if you are not clear as to what they are, consult an experienced attorney for help, so that you can make an informed decision as to whether the severance agreement is a good deal for you. If we can be of help, contact us through our website or call us at the number above.