Quote:
Originally Posted by nightstalker
a good read kal 
Its probably not the first company to go down that road, so large and
entrenched with history and better times ,I doubt they could even consider the industry without themselves in it.
I hope all the workers get there entitlements, but this is one buisness in its current shape that needs to be wound up. |
Or split up and sold off.
Are american workers guaranteed under state and federal laws of getting full pay out of their accruded unused leave , severance pays , pensions (like our super sorta I think) and other things or do they just go to the back of queue after the banks and shareholders as general creditors of the wound up company ? in which case they can count themselves lucky to eventually get cents in the dollar of what is due them....and in the USA the dole only lasts a matter of months then you are cut off too .... I am not clear what happens if you are still unemployed after the dole is cut off in the USA - guess you turn to begging or crime and live in squats and boxes and in become a non-person.
I've a sneeking suspiction that it is not certain the workers layed off will get their entitlements (in the USA) if a company declares bankruptsy or chapter 11 and goes under , but the high executive will still bail and take their golden paracutes with them.