BridgePoint Financial Services: Understanding Your Severance Rights

If you’re a non-unionized employee at BridgePoint Financial Services who’s facing job loss or a restructuring, you’re likely entitled to more than just a “standard” severance offer.

At Samfiru Tumarkin LLP, we help employees across Canada — including those at BridgePoint Financial — understand their legal protections and ensure they receive their full entitlements under common law.

How Severance Pay Works in Canada

In Canada, when a non-unionized worker is let go, their severance pay isn’t determined by a single company policy.

Instead, compensation is governed by provincial laws and Canadian common law.

Your total severance package is based on:

• Your age and length of service
• The nature of your position and seniority
• Your ability to find comparable employment

In many cases, these factors can result in a severance requirement of up to 24 months of pay.

Understanding “The Gap” in Severance Offers

There’s often a significant gap between what an employer provides in an initial severance offer and what the law actually requires.

It’s common across all industries for initial offers to:

• Focus only on the bare minimums required by the Employment Standards Act (ESA) or Employment Standards Code (ESC)
• Fail to account for bonuses, commissions, or equity (i.e. RSUs and stock options)
• Include aggressive “signing deadlines” (often 24–72 hours) to encourage quick acceptance

Defining Wrongful Dismissal

A “wrongful dismissal” is a specific legal term. It occurs whenever an employer in Canada terminates a non-unionized worker without “just cause” but fails to provide the proper amount of severance pay.

This isn’t a reflection of the company’s intent, but rather a calculation of whether the package meets the high standards set by Canadian courts.

If an employment contract’s termination clause is unenforceable, or if a “temporary layoff” is implemented without a prior written agreement, an employee may have a claim for full severance.

Recommended Steps for Staff at BridgePoint Financial

If your employment with BridgePoint Financial has ended in Canada:

1. Review your package: Don’t sign any release or severance offer immediately. You’re entitled to a reasonable amount of time to seek legal advice.
2. Use the Severance Pay Calculator: Get an anonymous, instant estimate of your entitlements.
3. Check your compensation: Ensure your offer includes all variable pay, including bonuses and benefits.
4. Seek legal advice: An experienced employment lawyer can secure that you receive fair compensation.

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Samfiru Tumarkin LLP has helped over 60,000 Canadians secure the compensation they’re owed, and has earned more than 3,000 5-star reviews across the country.

Disclaimer: The materials above are provided as general information about the rights of non-unionized employees in Canada. It is not specific to any one company and SHOULD NOT be read as suggesting any improper conduct on the part of any specific employer, or a relationship between Samfiru Tumarkin LLP and a specific employer.