Termination of employment is an inevitable part of personnel activity within any organization, and many of the reasons for termination are routine.
Below are examples of some of the most common circumstances under which employment is terminated:
• Resignation – voluntary employment termination initiated by an employee.
• Discharge – involuntary employment termination initiated by the organization.
• Layoff – involuntary employment termination initiated by the organization for non-disciplinary reasons.
• Retirement – voluntary employment termination initiated by the employee meeting age, length of service, and any other criteria for retirement from the organization.
Fortune International Group will generally schedule exit interviews at the time of Fortune International Group. The exit interview will afford an opportunity to discuss such issues as employee benefits, conversion privileges, and repayment of outstanding debts to Fortune International Group. Suggestions, complaints, and questions can also be voiced. Since employment with Fortune International Group, is based on mutual consent, both the employee and Fortune International Group have the right to terminate employment at will with or without cause, at any time.
Employee benefits will be affected by employment termination in the following manner. All accrued, vested benefits that are due and payable at termination will be paid. Some benefits may be continued at the employee’s expense if the employee so chooses. The employee will be notified in writing of the benefits that may be continued and of the terms, conditions, and limitations of such continuance.