Start here: Severance pay in Ontario: the complete guide explains the ESA minimums, common-law notice and how to negotiate.
Quick answer: If you were laid off by CIBC in Ontario, you are usually owed far more than the ESA minimum. Common-law notice depends on your length of service, age, position and how hard it will be to find similar work. Don't accept the first offer until a lawyer has reviewed it.
The recent wave of CIBC layoffs in Ontario has left many employees facing uncertainty and stress. Understanding your rights and the steps to take is crucial. This article explains how to maximize your severance pay and how Agha Law can help with a free consultation.
Understanding the Bardal Factors
When it comes to determining severance pay, the Bardal factors play a significant role. These factors consider the elements that influence the amount of severance an employee is entitled to receive. Knowing them can make a significant difference when negotiating a fair package.
What are the Bardal factors?
- Length of service. The duration of your employment with CIBC is a primary factor. Longer service generally results in a larger severance package.
- Age. Older employees may find it more challenging to secure new employment, which can increase their entitlement.
- Position held. Your role and responsibilities are considered. More senior positions may warrant more notice.
- Availability of similar employment. How easy or difficult it is to find a similar job affects the amount.
These factors are not exhaustive, but they are a useful guide to what you may be entitled to.
Maximizing your severance pay
Knowing how to maximize your severance pay protects your financial stability during this transition.
Review your employment contract
First, review your employment contract. It may contain clauses about termination. Those clauses must comply with Ontario's employment standards, and courts frequently find them unenforceable.
Get legal advice
An employment lawyer can evaluate your severance offer and negotiate on your behalf so that you receive fair compensation.
Consider benefits as well as pay
Beyond the lump sum, you may be entitled to continued health benefits, bonus or commission, pension contributions, outplacement services or career counselling.
Document everything
Keep a record of every communication and document related to your layoff and package. This can be vital if a dispute arises.
CIBC layoffs 2026: what you need to know
CIBC's decision to lay off employees in Ontario is part of a broader strategy to streamline operations. While the decision is business-driven, its impact on affected employees is personal.
The layoff process
- Notification. You'll receive formal notice of your layoff, usually in writing, along with the proposed package.
- Severance offer. Review it carefully and don't rush to accept.
- Consideration period. You'll usually have time to consider the offer. Use it to speak with a lawyer.
The emotional impact
Losing a job takes an emotional toll. Lean on family, friends or a professional counsellor if you need to.
Free consultation with Agha Law
Navigating a layoff and a severance offer can be overwhelming. Agha Law offers a free consultation to help you understand your rights and options. We'll look at your specific circumstances, explain the law in plain language and tell you what we think your next step should be.
Steps to take after a layoff
- Update your resume and LinkedIn profile to reflect your most recent experience and skills.
- Look into retraining if it would make you more employable in a new field.
- Review your finances and set a budget for the transition period.
Conclusion
CIBC layoffs in 2026 present a difficult situation, but understanding your rights and taking the right steps makes a significant difference. Know the Bardal factors, get legal advice before you sign, and remember that Agha Law offers a free consultation.
Employment lawyer in Toronto. JD, University of Ottawa. About Faisal
This article is general information about Ontario employment law, not legal advice. Every situation is different. For advice about yours, book a free consultation.