Stifel Nicolaus Canada: Severance Packages

Stifel Nicolaus Canada, commonly known as Stifel, is a financial services company that operates in Canada. The company was founded in 1890 and is headquartered in St. Louis, Missouri. Stifel provides a range of services, including investment banking, wealth management, and institutional brokerage. In Canada, Stifel focuses on investment banking and advisory services for both corporate and institutional clients.

Stifel has a notable presence globally, with thousands of employees spread across various regions. In Canada, the company’s workforce includes professionals such as investment bankers, financial advisors, research analysts, and support staff. These employees are involved in activities like mergers and acquisitions, public offerings, and private placements, as well as providing strategic advisory services to their clients.

In recent years, Stifel has expanded its operations through acquisitions, enhancing its service offerings and market reach. Notably, Stifel acquired GMP Securities, a leading Canadian independent investment dealer, which helped bolster its presence in the Canadian market.

Recent layoffs at Stifel

• June 2024: Stifel Nicolaus Canada has closed its Calgary office and fired several investment bankers and analysts in Toronto as part of a restructuring effort.

Severance pay for Stifel Nicolaus Canada employees

In Canada, non-unionized employees at Stifel Nicolaus Canada can get up to 24 months of severance pay when they are fired or laid off from their job. This applies to individuals working in any capacity—full-time, part-time, or hourly—in Ontario, Alberta, and British Columbia.

Severance is the compensation provided to non-unionized workers in Canada by their employer when they are terminated without cause.

Even if an employee is fired for cause, they may still be eligible for full severance pay. This is due to the high standards required to legally justify for-cause dismissal.

LEARN MORE
• Severance for provincially regulated employees
• Severance packages in mass layoffs

The right to severance pay is consistent regardless of economic conditions, company downsizing, business closures, or significant 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 tens of thousands of employees over the years in severance package negotiations.

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

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

The reality is that severance for non-unionized employees in Canada is calculated using a variety of factors, including age, length of service, position, bonuses, benefits, and your 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 you receive. Once you sign back these documents, you eliminate your ability to negotiate additional severance pay.

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 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.