Millions of Americans could lose their jobs in a coronavirus recession. Many won't get severance pay

Millions of Americans could lose their jobs in a coronavirus recession. Many won't get severance

Many workers don't have an adequate financial backstop in layoff situations, experts said.

Federal law doesn't require American companies to pay severance in the event of layoffs, leaving it up to the discretion of business owners.founder and chair of Outten & Golden

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