So, we had our Tuesday morning conference call.
Our boss, IT Director out of Twinsburg told us that NO ONE can be let go without the judge who is over seeing this mess approves it. We did breath a sigh of relief, at least knowing that the TT and local managers can not lay us off. Like MC Hammer says ' you can't touch us', sleep a little easier now everyone and GOD bless.
"The Debtors have approved the prospective budge and staffing plan for the period from Feb 25,2019 to June 25,3019" Great news Post ID: @YiyNUkP-uus, Thank you for that post. Finally a post of hope23 1000 years of Windstream peace and prosperity!
Att and Velo Cloud can’t be happy about this situation.
"What happens to all the vendors who we owe money to?"
They will settle out for pennies on the dollar.
"The Debtors have approved the prospective budge and staffing plan for the period from Feb 25,2019 to June 25,3019"
I guess that means alot of people are don't have a job as of July 1st.
What happens to all the vendors who we owe money to?
"The Debtors have approved the prospective budge and staffing plan for the period from Feb 25,2019 to June 25,3019"
Is this the same IT director that says nothing will change?? I've not heard this from my director
You are half right about this. The courts control the money and the board cannot make any changes without court approval. Post bankruptcy the court has allotted funds to pay out to those that are displaced by the RIF. As of right now the meeting of the creditors is set for 4/30/19. Depending on what the court and debtors approve I would imagine we would not see any changes until sometime in May. Based on previous layoff I think it would be closer to the end of the quarter. With all of that said we will have layoffs, building consolidation, etc. but not for a few months.
You are delusional... That judge has already approved a continuous operations plan that approved employee severance.