Layoff Security Plan Sample Clauses

Layoff Security Plan. Seniority employees who are subject to layoff are entitled to receive benefits under the Layoff Security Plan negotiated between the Company and Human Resources and Services Development Canada (“HRDSC”). To be eligible, employees must:

Layoff Security Plan. If an employee is temporarily laid off, the purpose of this benefit is to provide income during the waiting period for Employment Insurance Benefits. The benefit level paid by Alcoa during this maximum two week period is set at the E.I. rate. The plan only applies in the situation of a temporary layoff and not to apply to a permanent lay off, vacation shutdown, or Christmas shutdown. The payment covers Employees under the following categories: • Permanent full-time Employees; • Employees eligible to collect employment insurance benefits The benefit is payable in a lump sum upon confirmation of Employment Insurance payment. Employees must first apply for employment insurance and receive their first payment, to qualify for receipt of this benefit. Note: this benefit can receive prior approval for payout upon confirmation of individual eligibility from the Employment Insurance Commission.