WARN ACT
We have begun receiving our WARN ACT (Worker Adjustment and Retraining Notification Act) letters. Some people are quite excited and some quite depressed and some quite angry.
The severence package is definately above average but not as good as many had hoped. There have been closures within LS&Co where the package is better. However, employees will be able to keep there insurance at current cost for from 1-18 months depending on years of service. Everyone will receive 2 weeks pay per year of service plus a bonus. This is much better than most employers offer.
More info as closure approaches
We have begun receiving our WARN ACT (Worker Adjustment and Retraining Notification Act) letters. Some people are quite excited and some quite depressed and some quite angry.
The severence package is definately above average but not as good as many had hoped. There have been closures within LS&Co where the package is better. However, employees will be able to keep there insurance at current cost for from 1-18 months depending on years of service. Everyone will receive 2 weeks pay per year of service plus a bonus. This is much better than most employers offer.
More info as closure approaches
posted by Conrad @ 4:07 AM
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