Canadians receive more severance than U.S. workers

But Canadian firms put a cap on severance and have employees sign waiver first
||Last Updated: 12/15/2008

Employees laid off in Canada earn more severance pay than their American counterparts, irrespective of position or tenure, according to a new study.

HR consulting firm Right Management surveyed more than 1,500 HR professionals and senior managers in 28 countries, including 122 from Canada and 456 from the United States.

The study found that Canadian-based top executives who voluntarily left their employers earned 3.78 weeks of severance per year of service, compared to 2.76 weeks for their American counterparts and a global mean of 3.39 weeks per year of service.