What happens to lemployees laid off during Chapter 11
Sep 2nd 2003, 6:28 pm
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Joined: Aug 2003
Location: Northern VA
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What happens to employees laid off during Chapter 11
Anyone know what happens to employees of a Chapter 11 company in the US. I know laid off employees typically fall to the bottom of the pile during restructuring?
Is it really possible to lose severance payments and benefits? I have heard of it happen to Worldcom employees, but was that an exception?
Is it really possible to lose severance payments and benefits? I have heard of it happen to Worldcom employees, but was that an exception?
Last edited by PrincessofWales; Sep 2nd 2003 at 7:50 pm.
