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Dismissing Top Managers Without Severance Illegal in Spain

Spain’s Supreme Court ruled that labor contracts for top executives may not totally exclude severance payments for managers dismissed at the discretion of the employer.

The high court found that the practice ran contrary to a 1985 law, after reviewing the case of a top manager let go from the University of Santiago de Compostela.

To contact the editor responsible for this story: Todd White at twhite2@bloomberg.net

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