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I negotiated a GREAT severance package from my former employer, good enough to help me start my own business. It really helped that I had photos of him & a stripper doing naughty things that his wife would not have liked.
Depends greatly on your job position, if you can influence clients/customers or directed a large number of staff that you could poach to another firm, yes, you can negotiate a package.
Check you local/state labour laws for what the bare minimum payout required is, then start haggling!
ALso, here in Canada/Ontario anyway, if you can find another fromer employee from the company, who has been given a package, try and find out what the company gave them. Should it go to court, you can easily say that the company has shown a willingness to pay out X amount and that you are also entitled to the same treatment.
Fishheadjoe