If there are more layoffs, what's going to happen with severance? Is it still an option or will people be cut with no compensation?
As if I wasn't worried enough before...
11 replies (most recent on top)
The court has approved severance similar to former packages. You can view all the docket material online case 20-33233 state of texas.
CHK will not have the option to give traditional severances. This is up to creditors who will NOT allow for the crazy severance packages of the past.
Severance pay is a luxury option right now. Are you a creditor, a bond holder, a stock owner or just an employee?
In bankruptcy, severance will be about 2 weeks. Not 2 weeks per year of service. 2 weeks total. Unless you have an employment contract like DL - you do have one of those, don't you?
It will be up to the creditors and the court
The company has ALWAYS given a great severance package that’s is better than most. I don’t think that will change.
I think the company will still give you a severance.
Nothin' you can do about it, it's too strong to be denied. Nothin' you can do about it, relax enjoy the ride. So give up, give in, you lose. Don't you try to understand it, leave it as a mystery
Any stock you had in this company in your 401(k) is not worth zero.
All bets are off
And I'm not even sure why I used "if" instead of asking "when" there are more layoffs...