Termination Day and Severance Pay

The day that you find out that you've lost your job can be an emotional one.  Take a couple of deep breaths and try to stay composed.  You don't want to do a Jerry Maguire and "flip out". Rise above it all and be as gracious as possible.  Don't burn your bridges because the relationships you have built at your job may come in handy in future.

If you are entitled to severance pay, you should do what you can to maximize the amount you receive.  Your employment contract should state the amount you are entitled to, but don't assume that you can't get more than what is stated in your contract.  Although you don't have a lot of leverage to negotiate, you also don't have anything to lose (you've already lost your job!).  Aim to make an emotional appeal to your boss for a bigger severance package.  Mention the years of service you've dedicated to your job, the number of kids you have to feed, and the dire economy which could mean months of unemployment.  Many employers understand the value of parting on good terms since former employees can become future customers.  I was lucky when I lost my job - my employer doubled the severance package that I was entitled to!