The new law would require that workers at all companies employing 50 or more people to pay workers at least a week’s wages for every year of work. (Photo: Bloomberg)

Phil Murphy, governor of New Jersey, is expected to sign a bill just passed by the New Jersey legislature that would guarantee severance pay to employees in mass layoffs.

The Nation reports that the measure is a response to two years of employer bankruptcies that resulted in the termination of thousands of workers. Fifteen hundred Toys “R” Us workers in New Jersey were cut adrift in 2017 with no severance; employees at Payless Shoe Source and Sears were likewise left without a financial lifeline.

Complete your profile to continue reading and get FREE access to, part of your ALM digital membership.

Your access to unlimited content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and events.
  • Access to other award-winning ALM websites including and

Already have an account?


© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Marlene Satter

Marlene Y. Satter has worked in and written about the financial industry for decades.

More from this author


Join BenefitsPRO

Don’t miss crucial news and insights you need to navigate the shifting employee benefits industry. Join now!

  • Unlimited access to - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including and
  • Exclusive discounts on and ALM events.

Already have an account? Sign In Now
Join BenefitsPRO

Copyright © 2023 ALM Global, LLC. All Rights Reserved.