After 3 years of employment, James employer, Oldco, sold its business to Newco. James was immediately hired by Newco and he worked there for 2 years before he was permanently laid off. Assuming Newco has a payroll of $2.25 million, under Ontarios ESA what does Newco owe James in these circumstances?

Answers:

- 2 weeks notice or pay in lieu of notice of termination (including benefits), plus 2 weeks severance pay

- 2 weeks notice or pay in lieu of notice of termination (including benefits), and no statutory severance pay because James does not have 5 years service with Newco

- 5 weeks notice or pay in lieu of notice of termination (including benefits), plus 5 weeks of severance pay

- 5 weeks notice or pay in lieu of notice of termination (including benefits), and no statutory severance pay