Notice Of Termination

AAA

DEFINITION of 'Notice Of Termination'

Generally refers to the notice provided by an employer stating the date on which an employee's or employees' contract of employment will end. While a notice of termination may usually be provided to an employee for reasons unrelated to his or her job performance - for example, because business conditions necessitate layoffs or downsizing - it may also be given to an employee for poor job performance or misconduct.

INVESTOPEDIA EXPLAINS 'Notice Of Termination'

The U.S. Fair Labor Standards Act has no specific requirements for notice to an employee prior to termination or layoff. However, in certain cases, employers are required to give workers advance notice of mass layoffs or plant closure.

RELATED TERMS
  1. Wrongful Termination Claim

    A claim filed in a court of law by someone who believes they ...
  2. Cover Letter

    A written document submitted with a job application explaining ...
  3. Unemployment Claim

    A request made by an individual to the state government to receive ...
  4. Pink Slip

    An informal or slang term referring to a notice of dismissal ...
  5. Voluntary Termination

    1. An employee's decision to leave a job of his or her own accord. 2. ...
  6. Job Market

    A market in which employers search for employees and employees ...
RELATED FAQS
  1. No results found.
Related Articles
  1. Personal Finance

    The Layoff Payoff: A Severance Package

    If you must leave your job, go out fighting for the best benefits you can get.
  2. Budgeting

    Layoffs: Know The WARNing Signs

    Layoff rumors can run rampant, but if your company is required to give you two months' notice, you can plan for unemployment.
  3. Retirement

    How To Lay Off Staff

    Firing employees isn't easy, but it is simple: be honest, be compassionate and be quick
  4. Entrepreneurship

    How Important Is Social Media For Your Company?

    Freelancers and marketing agencies are just some of the resources companies are now using to develop their social media.
  5. Entrepreneurship

    Are You A Business Owner Suffering From Stress?

    Don't run yourself down. It's OK to take a vacation. We give you some tips on how to let go.
  6. Personal Finance

    How Minimum Wage Impacts Unemployment

    We explain how the minimum wage affects unemployment, public assistance, and the economy overall.
  7. Economics

    America's Most Notorious Corporate Criminals

    Learn about the crimes and punishments of some of the most infamous convicted white-collar crooks.
  8. Investing

    Corporate Governance

    Corporate governance refers to the formally established guidelines that determine how a company is run. The company’s board of directors approves and periodically reviews the guidelines, which ...
  9. Investing Basics

    Enterprise Resource Planning System: A How To

    An ERP system won’t transform poor management into good management, but the real-time business analytics can help make good management even better.
  10. Investing Basics

    How To Calculate Goodwill

    Goodwill is an intangible, but it is still possible to effectively calculate or estimate goodwill for a company.

You May Also Like

Hot Definitions
  1. Technical Skills

    1. The knowledge and abilities needed to accomplish mathematical, engineering, scientific or computer-related duties, as ...
  2. Prepaid Expense

    A type of asset that arises on a balance sheet as a result of business making payments for goods and services to be received ...
  3. Gordon Growth Model

    A model for determining the intrinsic value of a stock, based on a future series of dividends that grow at a constant rate. ...
  4. Cost Accounting

    A type of accounting process that aims to capture a company's costs of production by assessing the input costs of each step ...
  5. Law Of Supply

    A microeconomic law stating that, all other factors being equal, as the price of a good or service increases, the quantity ...
  6. Investment Grade

    A rating that indicates that a municipal or corporate bond has a relatively low risk of default. Bond rating firms, such ...
Trading Center