Thread regarding Corinthian Colleges Inc. layoffs

Know your rights, CCI NOT required to pay severance

http://articles.latimes.com/1996-04-21/business/fi-61156_1_severance-pay

"...there is no statutory requirement that an employer provide an employee who is being laid off with either two weeks' notice or severance pay."

http://humanresources.about.com/od/glossarys/a/severance_pay.htm

"No law requires an employer to pay severance pay. The Fair Labor Standards Act (FLSA) requires that an employer pay an employee whose employment has been terminated their regular wages through their completion date and for any time that the employee has accrued. This normally includes accrued vacation time, but not normally sick days."

Severances are only mandatory IF you have it explicitly in your employment contract (I.E UNION contract). Since NOBODY at CCI has that, severances are not your right. Don't let uneducated co-workers tell you otherwise. Don't count on CCI to offer these at bankruptcy time when their cash-debt ratio is near 3-1..by law, CREDITORS get paid first...not severance packages.

Time to grow up

by
| 521 views | | 3 replies (last May 12, 2014) | Reply
Post ID: @OP+vxm4pxL

3 replies (most recent on top)

Unless severance is clearly defined in black and white it doesn't matter anyway. Weeks ago someone posted that when they were laid off in April their severance for 2 decades was two weeks...total.

by
| | Reply
Post ID: @2mPw+vxm4pxL

Know your rights: CCi is not required to pay more than minimum wage!

by
| | Reply
Post ID: @1SPy+vxm4pxL

Debt-cash 3-1 I meant

by
| | Reply
Post ID: @PjX+vxm4pxL

Post a reply

: