Schaeffler is the largest employer at the Bühl location. The company plans to cut 340 jobs in Bühl. There are 4,400 in total. That is why a program has now been started that aims to encourage employees to sign up for a termination agreement or part-time early retirement by March 31, 2021 with financial incentives.
According to media reports, the group with headquarters in Herzogenaurach has launched a so-called volunteer program. Employees at all German locations can register until March 31st to leave the company with a termination agreement or a partial retirement agreement. Managers will – depending on their area of responsibility – approach employees within their area of responsibility from November 9, 2020 or January 1, 2021.
Avoid financial disadvantages with the termination agreement
Whether a termination agreement is actually worthwhile depends on many factors. With increasing age, secure employment is likely to appear more attractive to many than a severance payment. There are also pitfalls in social law – unemployment benefits and health insurance – which can often lead to considerable financial disadvantages.
Therefore, a termination agreement should be checked by a lawyer specializing in labor law before it is concluded so that errors can be avoided at an early stage and the severance payment offered can be checked. The individual situation of the employee should always serve as a guideline as to whether the advantages of an early termination of the employment relationship outweigh the disadvantages and risks.
Lawyer Markus Mehlig has been working for over 10 years with a focus on labor law. He represents employers and employees, so he knows both sides and their individual needs very well.
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