Does Chapter 11 mean we don't get severances from now on when we are laid off?
9 replies (most recent on top)
You might get 60 days of WARN pay... that's all. If it happens, do not delay and file for unemployment the same day if you are in Illinois. You will have to wait a week (Illinois 'waiting week'), certify online and your UI check will arrive after you certify. Post your resume on DICE, INDEED or similar job site within a couple days, there are a lot of jobs out there. If they don't offer COBRA then visit healthcare.gov to find some health insurance. Be prepared to pay around 700 a month for yourself or 1500 a month for you and domestic partner. If you have a Sears 401k then I suggest doing a direct rollover to an IRA as soon as possible.
No severance... period
No one and I mean no one should be upset, angry or suprised at getting no severance. How long has this thing dragged out? You took your chances and the dice came up c-aps for you. You knew this was a very real possibility and yet you stayed. U staying is not the issue, the problem is u being upset at not getting what u think u r entitled to! People have been warning u this would happen for months yet u r upset! Please!
Feel free to enter full blown panic. There will be no severance from now on.
It’s all in the judges hands now. Normally the answer is no. It’s looked on as additional debts as severance is not a condition of employment. Sorry an best of luck you will find something better.
No, it is all at the discretion of the JUDGE.
And the Judge is not going to approve severance pay when there's not enough cash to pay off all the Creditors.
The Judge works for the Creditors, not the employees.
From what has been posted on this board, severance has not been offered to recently laid off associates.
Its all at the company’s descretion.
Please tell me that's not true?