If a recession hits, is it possible for NOV to lay people off without severance? Usually, I'm not too worried about being laid off because I know that with severance I'll have enough time to find something new. However, since somebody mentioned that NOV could use the recession as an excuse to forego severance during layoffs, my stress levels have quadrupled. Is it legal to do this?
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Wow! You are really naive to think a company owes severance. They can do whatever they want. Just find a better place to work and get on with life if you are that worried. Easier to get a job while you still have a job.
I got a cr-p severance payout 6 years ago and don't imagine things have gotten better. The company loses multi-millions per year!
They laid off half of our office last year and no one received any severance.
In the US, no company owes you a severance at all. Anything they offer is usually to secure a general release so you won't sue them. But nothing is mandatory here.
I know the UK and some other places have different laws. This is US only.