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Answer for Termination and severance pay in Ontario

Yes, that is mostly right. Assuming termination is without cause and that there are no contracts requiring common law notice or notice above ESA minimums, each employee would be entitled to 8 weeks notice and 6% vacation. 
Severance is a bit trickier. Under Section 64(1)(a) of the ESA, severance may be required even if you’re below $2.5 million in payroll if “the severance occurred because of a permanent discontinuance of all or part of the employer’s business at an establishment and the employee is one of 50 or more employees who have their employment relationship severed within a six-month period as a result.” Here’s the full provision: 
Entitlement to severance pay

64 (1) An employer who severs an employment relationship with an employee shall pay severance pay to the employee if the employee was employed by the employer for five years or more and,

(a)  the severance occurred because of a permanent discontinuance of all or part of the employer’s business at an establishment and the employee is one of 50 or more employees who have their employment relationship severed within a six-month period as a result; or
(b)  the employer has a payroll of $2.5 million or more.  2000, c. 41, s. 64 (1).
 
Hope that helps. And sorry it took so long to get back to you. Glenn