Add Comment Question: when a business is sold and employees remain with new owner do I have to pay severance pay? Answer: Thank you for your question. If you remain with the new owner then your employment is not terminated. You will not be paid termination pay, but your years of service will factor into any entitlements to severance if your employment is terminated by the new owner at any point int he future. Your Comment * Your Email * Your Name * Your City Note, your name, city and email is not displayed on the website. It is used to notify you that we have approved your comment.