the staff of the Ridgewood blog
Trenton NJ, Landmark legislation signed into law by Governor Phil Murphy, the law, S-3170, makes New Jersey the first state in the country to guarantee severance pay in the wake of mass layoffs.
The legislators acted in response to the rash of business closings and bankruptcies where workers were left jobless and without severance compensation, including Toys ‘R’ Us, which closed operations at its Wayne headquarters and Flanders distribution center.
The law increases the minimum number of days of notice from 60 to 90 that employers of 100 or more full time employees when there is a mass layoff, plant closing or transfer resulting in 50 or more employees losing their jobs. It will also require severance pay equal to one week for each year of service. The severance would be “earned in full” upon the termination of employment.
It’s about time.
Ha Ha
there will be a lot of rolling 49 person layoffs…
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