CVC Capital Partners: Severance Packages

CVC Capital Partners (CVC) is an international private equity and investment advisory firm, originally founded in 1981 as the European arm of Citicorp Venture Capital. The firm engages in private equity and credit investments across a diverse range of sectors, including finance, telecommunications, and health care, among others. Services include leveraged buyouts, management buyouts, recapitalizations, and growth capital investments.

CVC employs hundreds of people across the globe, typically offers roles related to investment analysis, portfolio management, financial advisory, and operational management. The company has a global network of 29 offices and manages more than CAD $250 billion of assets.

Subsidiaries of CVC include OANDA Canada, TechInsights and Plus Company.

CVC Capital Partners Layoffs

• January 2024: Samfiru Tumarkin LLP is monitoring reports that OANDA Canada has laid off as many as 40 employees.

Severance For CVC Employees

In Canada, non-unionized employees at CVC Capital Partners and its subsidiaries can get up to 24 months of severance pay when they are fired or laid off from their job. This includes individuals working full-time, part-time, and hourly in Ontario, Alberta, or B.C.

Severance is the compensation a non-unionized worker in Canada receives from their employer when they are fired without cause.

Even if you are fired for cause, it’s very likely that you are still entitled to full severance pay because employees often don’t meet the conditions necessary for this type of dismissal.

LEARN MORE
• Severance for provincially regulated employees
• Federally regulated workers and severance pay
• Severance packages in mass layoffs

Regardless of a company’s grasp on employment law, they are legally required to provide proper compensation following a termination.

This concept applies during challenging economic conditions, downsizing, the closure of a business, or major public health events such as the COVID-19 pandemic.

WATCH: Employment lawyer Lior Samfiru explains everything you need to know about severance pay on an episode of the Employment Law Show.

The employment lawyers at Samfiru Tumarkin LLP have represented numerous employees in the financial sector over the years in severance package negotiations.

• LEARN MORE: Severance pay by company

We have successfully secured much larger amounts for individuals employed across a variety of positions, from entry level jobs to executives.

How to properly calculate severance pay

Employers often incorrectly calculate severance pay. There is a belief that severance pay is one week’s pay, two weeks’ pay, or a week for every year of service an employee has with the company.

For non-unionized employees, severance pay is calculated by looking at key factors, including their age, length of service, position, bonuses, benefits, and the ability to find new work.

To figure out how much compensation you may be entitled to, use our firm’s Pocket Employment Lawyer.

ADDITIONAL RESOURCES
• Severance Pay in Ontario
• Alberta severance packages
• Understanding severance in B.C.
• Layoffs in Canada

Don’t sign on the dotted line!

Do not accept any severance offer, termination papers, or exit agreement that CVC Capital Partners may provide you with.

Once you sign back these documents, you eliminate your ability to negotiate your severance package.

Generally speaking, if an employee does not receive the proper amount of severance pay when they lose their job, they may be considered to have been wrongfully dismissed. An employment lawyer at Samfiru Tumarkin LLP can analyze your situation and explain how much compensation you may be owed.

Talk to an employment lawyer

The experienced employment law team at Samfiru Tumarkin LLP has helped tens of thousands of non-unionized individuals across the country. In addition to severance package negotiations, our team has experience securing solutions for the following employment matters:

Our lawyers in Ontario, Alberta, and B.C. stand ready to help you solve your workplace issues.

If you are a non-unionized employee who needs help with an employment issue, contact us or call 1-855-821-5900 to get the advice you need, and the compensation you deserve.

Disclaimer: The materials above are provided as general information about the rights of 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.