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The company for which I am employed with is the service provider for a government agency, and we have just been informed that the contract has been terminated on March 31, 2024, but can re-apply for a position with the new company awarded the contract. I will be 60 years of age in April and have been with the company for almost 12 years in middle management. Would I be able to get a full severance if I get rehired?

Thank you for your question. Generally speaking, if you are offered a job with the new company you would typically not be entitled to any severance.
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