Recently my company was acquired by another and then the day after the acquisition announcement we were told our plant was closing. There was an attorney and management on hand that day for meetings with each of the employees.
My meeting was with the managers and I was presented with a letter signed by the president of the company stating they would like me to stay through the close of the plant and would offer me a stay bonus and severance package to do so. It stated if I remained at the company through the close of the plant I would be paid a stay bonus of $34,500 and a severance pay of $10,899. As a salaried employee making $69,000 yearly, it sounds too good to be true, but it is in writing and signed.
How enforceable and reliable would a letter be from the president of the company? Does this sound legitimate and would they have to pay me the stay bonus and severance pay?
Any expertise would be greatly appreciated.
My meeting was with the managers and I was presented with a letter signed by the president of the company stating they would like me to stay through the close of the plant and would offer me a stay bonus and severance package to do so. It stated if I remained at the company through the close of the plant I would be paid a stay bonus of $34,500 and a severance pay of $10,899. As a salaried employee making $69,000 yearly, it sounds too good to be true, but it is in writing and signed.
How enforceable and reliable would a letter be from the president of the company? Does this sound legitimate and would they have to pay me the stay bonus and severance pay?
Any expertise would be greatly appreciated.
