WARN Act

[Anonymous]

Hmmm, clear as mud but could mean an extra 2 months for MRX folks.

http://www.doleta.gov/programs/factsht/warn.htm

 

[Anonymous]

Umm no. Management already told us that by paying severance packages, this is not an issue. In effect, the guaranteed two months that everybody gets covers this. Sorry.

 

[Anonymous]

Right now its a 1 month minimum...they communicated incorrectly ..shocking..

 

[Anonymous]

Right now its a 1 month minimum...they communicated incorrectly ..shocking..

Wrong, we will have until mid-February until severance can begin. Read up.

 

[Anonymous]

Yes, according to the WARN Act, Valeant must give those laid off at a 'single site' a 60 day notice if the layoffs exceed 50 and that is at least 33% of the workforce. Thus layoffs announced next week will be effective mid-February.

 

[Anonymous]

The clock starts upon sever, why wait - matter of fact, game over

 

[Anonymous]

Wrong, we will have until mid-February until severance can begin. Read up.

You wait and see..

 

[Anonymous]

Be very careful with the severance they offer. At HQ, Valeant is trying to get out of paying the 60 days!

 

[Anonymous]

Yep...its true. Loophole.

 

[Anonymous]

Who is left in the building???

 

[Anonymous]

Who is left in the building???

May not be a good idea to waive your WARN Act rights. You may pay more in tax next year but you still get your 401K match and can come close to maxing that out by Feb. Also, you continue to acrue vacation time and have your other benefits fully covered. Due your math before you sign!

 

[Anonymous]

Who is left in the building???

Security guy John.

 

[Anonymous]

Wrong, we will have until mid-February until severance can begin. Read up.

why mid feb? Are they asking you to wave your warn act rights? For what?

 

[Anonymous]

why mid feb? Are they asking you to wave your warn act rights? For what?

Yes, they are asking us to waive our WARN Act rights in exchange for paying out our severance in 2012 and for many they want the last day of work to be 12/14. Two months beyond that takes us to mid-Feb.

 

[Anonymous]

Don't waive your WARN Act rights! Two months of salary = 17% of your pay. No way are taxes going up in 2013 that much!

Valeant is pushing us to do this because it is a huge tax benefit to them to pay all these expenses in the year of close - just write it all off and get it over with.

 

[Anonymous]

Starting today you can be fired without notice or cause from Valeant.
WARN act can be completely ignored!

 

[Anonymous]

Sorry Valeant HR, you are wrong on that point. Consult your legal staff....oh that's right....you don't have any!!!

 

[Anonymous]

Yes, they are asking us to waive our WARN Act rights in exchange for paying out our severance in 2012 and for many they want the last day of work to be 12/14. Two months beyond that takes us to mid-Feb.

So they want you to be paid out this year and your done. Other option is to continue to get paid weekly with benifits and 401k and vacation accural. Is that right?

 

[Anonymous]

So they want you to be paid out this year and your done. Other option is to continue to get paid weekly with benifits and 401k and vacation accural. Is that right?

Yes, that is correct. Either take the Medicis severance package which includes waiving (I believe they are calling it a "release") your WARN Act rights, OR you refuse the sign the release, continue on the books for 2 more months, and loose your Medicis severance package.

 

[Anonymous]

Yes, that is correct. Either take the Medicis severance package which includes waiving (I believe they are calling it a "release") your WARN Act rights, OR you refuse the sign the release, continue on the books for 2 more months, and loose your Medicis severance package.

what is more lucrative?