Permanent Plant Closure - Severance Pay Sample Clauses

Permanent Plant Closure - Severance Pay a) The Company agrees that employees affected by permanent plant closure shall be given sixty (60) days notice of closure. b) Employees terminated by the Company because of permanent closure of a manufacturing plant shall be entitled to severance pay equal to ten (10) days' pay for each year of continuous service with the Company, and thereafter for partial years in increments of completed months of service with the Company. Employees who transfer to another division of the Company because of permanent closure of a manufacturing plant shall be entitled to severance pay equal to seven (7) days’ pay for each year of continuous service with the Company. c) Severance pay for uncompleted years of service shall be computed on the basis of completed months service. d) Where a plant is relocated and the employees involved are not required to relocate their place of residence or are not terminated by the Company as a result of the plant relocation, they shall not be entitled to severance pay under this article. e) If a plant is indefinitely closed, and is subsequently permanently closed, those regular fulltime employees laid off at the time of the indefinite closure or subsequently laid off, will be entitled to the severance provisions provided for in b) above based on their seniority at the time of their layoff.
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Permanent Plant Closure - Severance Pay a) Effective July 1st, 1997, employees terminated by the Company because of permanent closure of a manufacturing plant shall be entitled to severance pay equal to seven (7) day’s pay for each year of continuous service and thereafter in increments of completed months of service. A “day’s pay” for this purpose is eight (8) hours straight time. b) Where a plant is relocated and the employees involved are not required to relocate their place of residence or are not terminated by the employer as a result of the plant relocation, they shall not be entitled to severance pay under this Article.
Sample 1
Permanent Plant Closure - Severance Pay. Effective January employees terminated by the company because of permanent closure of a manufacturing plant shall be entitled to severance pay equal to (seven) days pay for each year of continuous service and thereafter in increments of completed months of service.
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Related to Permanent Plant Closure - Severance Pay

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