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Under those principles, an offer to enter into a contract may be revoked (withdrawn) at any time before it is accepted. Therefore, a severance offer can be revoked at any time, including within the 21 day period.After all, you made the decision to offer severance for sound business reasons.

You can take on another job while you're laid off or on short-time (unless your contract says you must not). You should: get your employer's agreement.make sure you're available for your original job once the lay-off or short-time ends.

From a tax perspective, the IRS views traditional severance payments as supplemental wages because they are not a payment for services. Severance paid to employees in a lump sum, unrelated to state unemployment benefits, is taxable as wages for both income-tax withholding and FICA purposes.

Unless you have an employment contract specifying what you will receive in severance, an employer can generally change its severance plan at any time. There's nothing to stop an employer from modifying the plan or getting rid of it altogether, as long as it provides advance notice to employees.

The severance pay offered is typically one to two weeks for every year worked, but can be more. If the job loss will create an economic hardship, discuss this with your (former) employer. The general practice is to try to get four weeks of severance pay for each year worked.

You can indeed still accept severance even if you're about to accept another offerin fact, even if you've already accepted another offer (assuming that there's nothing in your severance agreement that prohibits that, which there probably won't be).

Severance agreements (or separation agreements) are legally-binding contracts. They are typically drafted by the employer's lawyer for the benefit of the employer, not the employee.