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300 Jobs, $8-10 Million in Severance

An average of $30,000 per employee.  That is how much the severance for the Mohegan Tribal Gaming Authority employees at Mohegan Sun will run, as reported.  This information is based off a Form 8-K filed with the Securities and Exchange Commission yesterday.

Although yesterday's filing does not explain whether this is a voluntary severance or one by prior contract, it shows that companies need to consider the costs of terminating workers when looking at a downsizing plan.  Employees also should be aware of what, if any, rights they have to severance when being terminated.  

Both Connecticut employers and employees should retain counsel prior to a separation in order to negotiate a successful severance.

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