Problem
Which one of the following statements concerning individual notice of termination (or pay in lieu) and statutory severance pay under Ontario's Employment Standards Act is true?
1. Individual notice/pay is meant to provide the dismissed employee with time to find another job while still being paid and statutory severance pay is meant to compensate longer service employees for their loyalty, loss of seniority, and loss of job-related benefits.
2. Both individual notice/pay and statutory severance pay are meant to compensate longer service employees for their loyalty, loss of seniority, and loss of job-related benefits.
3. They serve the same purpose: to give a dismissed employee time to look for a comparable job while still receiving income.
4. Both individual notice/pay and statutory severance pay are meant to compensate longer service employees for their loyalty, loss of seniority, and loss of job-related benefits.