200 Employees Laid Off After Restructuring At Canada's Largest Credit Union

This year there have unfortunately been several mass layoffs in BC. Most recently, Vancity has announced that it is terminating approximately 200 of its employees across the organization.

To Vancity's credit, their press release noted that these employees would be provided a "comprehensive, fair and equitable package of compensation, health and wellbeing and career supports." Importantly, the press release also announced that they would be continuing the employees' extended health, dental and insurance plans for three months following their termination, a supportive measure many employers don't take during layoffs.

It is, however, also important to consider that a "fair" severance package for one employee might not necessarily be a fair offer for another. In the absence of a binding employment contract limiting the employee's entitlements upon termination (or just cause), an employee will generally be entitled to "reasonable notice" of their termination or "pay