Resignations left and right

Quote

Anonymous

Guest
Looks like there are a lot of smart people making moves. Not sure why anyone would wait around for a "severance" from B&L when they have screwed people over and over again.
 


















B+L severance equals about 1 week for every year employed, with benefits. For a long-timer with 7 years that's only 1.5 months of severance pay. They usually take your car at the beginning of severance. Good luck.
 






Anonymous said:
B+L severance equals about 1 week for every year employed, with benefits. For a long-timer with 7 years that's only 1.5 months of severance pay. They usually take your car at the beginning of severance. Good luck.
Click to expand...

The WARN act has a minimum severence of 60 days notice (you work for 60 days following the black folder) or the company pays you for 60 days where you dont have to be at work.
 






This is the nature of the beast, which is the industry. We are talented representatives. Always know your worth, and value here and elsewhere. We are all business people and at the end of the day we need to weigh whats best you (us) as individuals and for our families.
 




































Anonymous said:
I am sure Valeant could care less about WARN. They will disregard it just like they did in the past with other acquisitions.
Click to expand...

If they ignore the WARN Act then they will be sued...much more costly then paying out the minimums required...

the people that are really going to get hurt are the people that have been here for a while and have accrued additional weeks of severance pay...they wont get those...just the 60 days.
 






Anonymous said:
If they ignore the WARN Act then they will be sued...much more costly then paying out the minimums required...

the people that are really going to get hurt are the people that have been here for a while and have accrued additional weeks of severance pay...they wont get those...just the 60 days.
Click to expand...

How do you figure ???
 






you have a misunderstanding of warn act.

it doesn't really apply in a take over. It's a gray area.

warn act requires 60 days notice but there are a number of criteria and exceptions.
If you get 60 days notice (which you won't) then they don't have to give you a severance.

In a usual layoff, you get the notice and then they are not required to give you an severance but most companies give 2 weeks and 2 weeks for each year worked.
you're not entitled to any severance unless it was in your employment contract, but you don't have an active employment contract with valeant until you survive the layoff... see how it works? very gray.

They can also give you pay in lieu of notice, which they will. But they still don't really have to because it's not B&L doing a mass layoff that was foreseen. It's valeant doing a mass layoff upon taking over an acquisition (unforeseen / change in business)... and warn does not really apply.

The penalty for violating warn is 60 days back pay and benies, so most companies will give you the pay and be done with it. You should expect no more than 2 months severance and insurance to end the month of the separation.

Best to go find another job. The value of another job in hand is worth 100xs any severance valeant will give you.
 


















Top Bottom
Back
Quote