Severance Option. (a) Severance will be offered as a result of organizational changes that result in the permanent reduction in the number or full-time equivalency of Regular Employees in the bargaining unit. (b) The Employer will offer the following severance to eligible Regular Employees, as defined in Article 2: (i) A Regular Full-Time Employee shall be eligible for severance pay in the amount of two weeks’ Full-Time pay at their basic rate of pay for each full year of continuous employment to a maximum of forty
Appears in 2 contracts
Sources: Collective Agreement, Collective Agreement
Severance Option. (a) Severance will be offered as a result of organizational changes that result in the permanent reduction in the number or full-time equivalency of Regular Employees in the bargaining unit.
(b) The Employer will offer the following severance to eligible Regular Employees, as defined in Article 2:
(i) A Regular Full-Time Employee shall be eligible for severance pay in the amount of two weeks’ Full-Time pay at their her basic rate of pay for each full year of continuous employment to a maximum of forty
Appears in 1 contract
Sources: Collective Agreement