This is more up fredr's alley than mine, but the amount of severance/notice at common law depends on factors such as your position, term of employment, age, industry, etc. If you are a professional or management-level, you may be entitled to as much as 2 months per year, and certainly 1 month. If you are a security guard, statutory minimum is all you get.
The older you are, the more you are entitled to, the logical rationale being it's much tougher to for someone who is 55 to find a new job, as opposed to a 30 year-old...