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Layoff Agreement

Layoff Agreement Template for India

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Key Requirements PROMPT example:

Layoff Agreement

"I need a Layoff Agreement for our Mumbai-based technology company that's reducing its workforce by 50 employees in March 2025, including special provisions for protecting our intellectual property and handling unvested stock options."

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Document background
The Layoff Agreement serves as a crucial legal instrument in Indian corporate environments when organizations need to reduce their workforce due to various business reasons such as economic downturn, restructuring, or operational changes. This document is specifically designed to comply with Indian labor laws, including the Industrial Disputes Act, 1947, and various state-specific regulations. It provides a structured framework for implementing layoffs while ensuring fair treatment of employees and protecting employer interests. The agreement typically includes comprehensive details about severance packages, final settlements, continuation of benefits, confidentiality obligations, and mutual releases. It's particularly important in scenarios requiring clear documentation of separation terms and compliance with statutory requirements for workforce reduction.
Suggested Sections

1. Parties: Identification of the employer and employee, including full legal names, addresses, and designations

2. Background: Brief context of the employment relationship and the circumstances leading to the layoff

3. Definitions: Definitions of key terms used throughout the agreement

4. Effective Date of Separation: Clear specification of the last working day and the date when employment officially terminates

5. Severance Package: Details of the severance pay and calculation methodology as per applicable laws

6. Final Settlement: Breakdown of all final payments including salary, bonus, gratuity, and other benefits

7. Company Property: Requirements for returning company property and handling of company information

8. Confidentiality Obligations: Ongoing obligations regarding confidential information and trade secrets

9. Full and Final Release: Mutual release of claims and waiver of rights

10. References: Agreement on the nature and content of employment references

11. Governing Law: Specification of Indian law as governing law and jurisdiction

12. General Provisions: Standard clauses including severability, entire agreement, and amendments

Optional Sections

1. Garden Leave: Terms of paid leave during notice period, if applicable

2. Non-Competition: Post-employment restrictions on working with competitors, if legally enforceable

3. Outplacement Services: Details of any career transition support provided by the company

4. Stock Options/RSUs: Treatment of outstanding equity compensation, if applicable

5. Group Insurance Extension: Terms for extending medical insurance coverage post-termination

6. Rehire Eligibility: Statement about future employment possibilities with the company

7. Acknowledgment of Performance: Recognition of employee's contributions, if parting on good terms

Suggested Schedules

1. Schedule A - Severance Calculation: Detailed breakdown of severance amount calculation

2. Schedule B - Final Settlement Statement: Itemized list of all final payments and deductions

3. Schedule C - Company Property Checklist: List of company assets to be returned

4. Schedule D - Benefits Summary: Summary of benefits continuation or termination

5. Appendix 1 - Statutory Declaration: Employee's declaration confirming voluntary acceptance of terms

6. Appendix 2 - Compliance Certificate: Confirmation of compliance with applicable labor laws

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈË°æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions






























Clauses






























Relevant Industries

Information Technology

Manufacturing

Financial Services

Telecommunications

Healthcare

Retail

E-commerce

Construction

Professional Services

Education

Automotive

Real Estate

Relevant Teams

Human Resources

Legal

Compliance

Employee Relations

Industrial Relations

Corporate Affairs

Risk Management

Finance

Operations

Relevant Roles

Human Resources Director

Legal Counsel

HR Manager

Compliance Officer

Employee Relations Manager

Chief Human Resources Officer

HR Business Partner

Legal Manager

HR Operations Manager

Chief Legal Officer

Talent Management Director

Industrial Relations Manager

Industries







Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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