Thread regarding Chesapeake Energy Corp. layoffs

The no severance or cobra they could probably do. The no vesting of equities which are considered prior compensation awards would technically constitute a clawback, which are difficult to do without legal ramifications unless an employee can be proved to be willfully negligent...talked to a lawyer tonight. If they didn't vest the equities in a layoff then all companies would just pay employees solely in restricted stock and then terminated them before the award point. I wouldn't put it past them but the equities portion sounds off, the 401k match is not covered under awarded compensation so they would not likely vest that as during the previous layoff. The consultation with the lawyer was free so maybe you get a different answer when paying out of pocket. Hope this helps some.