Reduction in Force Pay
|Policy No.:||3-15||This policy applies to:|
|Policy Name:||Reduction in Force Pay||
In cases where Loyola University New Orleans dismisses an employee due to a decrease in workload or due to financial exigency on the part of the University, the following guidelines will be followed in determining reduction-in-force pay:
3 Months to 1 Full Year of Continuous Service:
10 working days
1 Year to 5 Full Years of Continuous Service:
20 working days
Over 5 Full Years of Continuous Service:
30 working days, plus an additional 15 working days for every full year of service beyond 5 years, up to a maximum of 240 working days (1 year’s salary).
Reduction in force pay for part-time employees will be prorated based on work schedule.
Specifically excluded from benefits under this provision are employees hired as temporary employees or limited term employees hired for a specified period of time; employees who were offered but refused to accept another position with the organization commensurate with the employee’s skills and abilities and at the same pay and benefits; and employees who were provided the opportunity to be retained for at least six months by a successor employer engaged by Loyola.