with Bob getting a huge severance of millions, he still gets to keep his health insurance... something normal people need...
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Disclaimer: I am not a lawyer, this is not legal advice.
Regarding the NY WARN act
https://dol.ny.gov/worker-adjustment-and-retraining-notification-warn%29%3A
The WARN Act applies to private businesses with 50 or more full-time employees in New York State. It covers:
Closings affecting 25 or more employees
Mass layoffs involving 25 or more full-time employees (if the 25 or more employees make up at least 33% of all the employees at the site)
Mass layoffs involving 250 or more full-time employees
Certain other relocations and covered reductions in work hours
This means that covered businesses must provide all employees with notice 90 days prior to a:
Plant closing
Mass layoff
Relocation
Other covered reduction in work hours
Businesses must give notice to:
All affected employees
Any employee representative(s)
The New York State Department of Labor (DOL)
The Local Workforce Development Board (LWDB)
The chief elected official of the unit or units of local government where the site of employment is located
The school district or districts where the site of employment is located
Each locality that provides police, firefighting, emergency medical or ambulance services, or other emergency services, to the locale where the site of employment is located
https://www.nysenate.gov/legislation/laws/LAB/A25-A
The only exception that may relate is 860-c (iii) which states:
(iii) the employer reasonably and in good faith believed that giving
the notice required by subdivision one of section eight hundred sixty-b
of this article would have precluded the employer from obtaining the
needed capital or business;
They can possibly claim that notifying would have harmed the deal with Sundance.
Regarding Bob still being in Murray:
May 3rd 2024
https://finance.yahoo.com/news/bob-bakish-gets-258k-per-012229819.html
According to an SEC filing on Friday, Bakish will remain with the company as a senior advisor through Oct. 31 to assist with the transition. The end of his employment will be considered a “termination without cause.”
During the transition period, he will receive a monthly base salary of $258,333.33. He will also remain eligible to receive a pro-rated bonus for 2024 that will be calculated based on his service until his separation date and will continue to vest in all outstanding equity awards in accordance with their terms.
...
Bakish will receive an estimated severance package of $48.5 million under a non-qualifying change in control termination, which includes $6.2 million in continuation of salary and other cash compensation, $24.8 million in annual bonus continuation, $83,913 in continuion of medical, dental and life insurance, $25,000 in outplacement assistance and $17.38 million in total acceleration/continuity of equity awards.
The reason why Bob is still in murray, is because he still is consulting to the company until September I think. Supposedly. It was in one of the articles that I cannot find now.
Scott Gallop at the DOL NY is contact listed on all previous WARN
contact him re this round
some layoffs -the notice was posted a few days later
Google for his info or look at the WARN part of the DOL site
NO NEW NY WARN NOTICE FOR THIS ROUND (last one was 04/19 and does not include this tranche) ... how does that play into payment? 60 day ... 90 day notice period on top of severance?
Is the union safe?
@gul+1u0REH8q Simply announcing layoffs is not good enough. They must use the WARN notice publication process. If you weren’t given 60 days or 90 days of New York you should absolutely call a lawyer. It’s unbelievable to me that they are doing this. Such absolutely horrible human beings.
I was laid off yesterday and was told Friday is my last day. The seperation date is listed towards the end of August (anyone know how that is calculated?) And 2 weeks per year in severance which in my case doesn't add up o the WARN requirement of notice. Does announcing it by news count? I would hope not but it is all I've figured out. Going to contact an employment lawyer. Will post anything here if I gain any confirmation on anything
Agree with the other posters The only exception I could see is if they gave you notice - for example you are working 60/90 more days
and severance picked up after that
If you end Friday it has to be the 60 or 90 days --- did HR tell folks WARN didn't apply
They aren't paying 60 days. So if you've been here 3 years or less they aren't giving you 60 days. It's a scam. They are betting you won't call a lawyer. Everyone should be calling a lawyer who isn't getting at least 60 days of severance. In New York it is 90 days.
So I wonder something. Company is suppose to give 2 weeks severance per year of service. However under the warn act they have to give you 60 days notice before termination. It seems they are calling the 60 days from warm your severance which seems incorrect. Has anyone picked up on this? Should it be 60 days or warn + 2 weeks per year of severance?
Good old Bob B is still listed as CEO in Murray, so I don’t think we’ll see an updated org chart anytime soon
@oad+1u0REH8q If they weren’t offered 60 days of severance how can this Friday be their last day? They have to give 60 days notice per the WARN act
AHAHAH, the company be organized
enough to do that fat chance, also too the patterns of who is chosen would be so obvious
Is there a way to find out who has been impacted? Will they update the org chart on Murray? When?
Friday should be the last day for a majority. Though there have been a few good bye emails acknowledging today is the last day.