How do insurance companies compensate for layoffs?

1. Let's find out whether it's layoffs or not. According to Article 4 1 of the Labor Contract Law, layoff means that the number of employees and the company who terminate the labor contract at one time exceeds 20 or accounts for more than 10% of the total number of employees. Layoffs must be agreed by the workers and approved by the labor department. That's probably why the company called you.

Secondly, we should find out the reasons for layoffs. According to Article 46 of the Labor Contract Law, when an enterprise goes bankrupt and reorganizes, the retrenched party pays economic compensation, but does not pay economic compensation due to technological innovation, change of business direction and other reasons.

3. If the company wants to terminate the labor contract, firstly, it has not signed a labor contract, and it shall pay double wages not exceeding 1 1 month from the next month of employment (Article 82 of the Labor Contract Law); Secondly, social security should be paid; Finally, in case of bankruptcy and reorganization, economic compensation shall be paid (Article 46 of the Labor Contract Law).

If the report asks you to resign voluntarily, you won't get financial compensation.

Further reading: How to buy insurance, which is good, and teach you how to avoid these "pits" of insurance.