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I own my own business and have an employee who is 47 years old and worked for my company for just over 7 years doing bookkeeping work. I no longer have enough work for this person. My payroll is under 2.5 million so I understand that I do not have to pay severance but must give the person working notice or pay in lieu of notice (my choice) and am considering giving 4 months. Is this sufficient?
That is on the low end. The person is likely entitled to a couple of months more. That said, the employee may well accept the 4 months. You do want to get a signed Release from the employee. I am happy to discuss that with you.
Lior Samfiru
Lior Samfiru