Maybe a stupid question , but at this point it sounds pretty reasonable to me. Ch 11 will cause a lot of layoffs in one form or another, that’s for sure. In how much danger are we exactly regarding the receiving of our severance if we get laid off within the BK proceedings?
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Severance will be pad out as per country labor laws at the minimum possible. I was lucky and jumped ship 4 years ago and got 6-months pay, pro-rated bonus & leave days due.
Only what is legally owed, in the country you live in, if no notice is given. Most people will be given notice that they will be laid off in a future date, therefore, no severance required. I’m kind of laughing at anyone who wanted to stick it out for a severance package.
The severance has already been paid in the form of bonuses. If you did not get your bonus for 2018 and your bonus for q1 2019 then you are out of luck.
The WFT business I work in has lost 50% of headcount in the past year. We are already at breaking point, if McCollum doesn’t come out with a clear communication of what this means for the staff then there won’t be a rush to the exits, there will be a sprint.
I also hope he straight talks and there’s none of the PC dog sh-- that we are forced to swallow and pretend that we agree with.
we are destitute, ..... end times upon us, ...... walls closing in, ...... the hounds are barking at the door, ....... hey! let’s take a long lunch, maybe sushi ! mmmmmmm
If you’re operational then you’re a revenue maker and safe. If you’re not, then start activating plan B coz the hangers on who have been riding in the slipstream are about to get jettisoned.
Hate to break it to you, buddy, but any severance pay you may have gotten has gone the way of the employee stock purchase plan. Hope you made a lot!