JoeF Posted January 19, 2009 Share Posted January 19, 2009 Wow, I hadn't heard about Nortel... Pooj -- it sucks that you're out of a job, but you'll bounce back. Move to Minnesota and work for Best Buy. On second thought, with our weather, maybe not. Warning Fezmid and other readers...this Nortel story made me sick... I talked to a friend this weekend who was a VP at Nortel. On Tuesday of last week, he agrees to a package with HR and his boss, an SVP and part of the company senior leadership team. Its a year's severance (nice if you can get it) and benefits. On Wednesday, they declare chapter 11-- he gets a call at midnight from his boss saying--"You know what you signed 8 hours ago, well you are no longer employed and the severance agreement makes you just like any other creditor once we declare chapter 11. The company is stopping payment on all severance agreements as of Jan. 31." No job. No severance. Nice Company.... Link to comment Share on other sites More sharing options...
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