Once again Frontier shows its true colors by filing a motion to pay handsomely ($30,000 to $282,000) in order to retain certain employees. Even during bankruptcy they only care about rewarding themselves while disregarding network issues, and anything else for that matter. Frontier doesn't have the "where withal" necessary to compete in the telecom industry while failing to live up to their mission and value statements, i.e. being the telecom leader in each market. Their selfishness and poor treatment of unionized workforce, as well as many non-unionized workforce, shines through brilliantly for those who LIVE it daily! Here's the proof;
From DEBTORS’ MOTION FOR ENTRY OF AN ORDER APPROVING THE DEBTORS’ KEY EMPLOYEE RETENTION PLAN Chapter 11 Case No. 20-22476 (RDD) filed 5/5/2020
By this Motion, the Debtors seek approval of a key employee retention plan (the “KERP”), which is
necessary for the Debtors to maintain stability in their operations and maximize enterprise value,
and which is consistent with the Debtors’ prepetition compensation practices and incentive-based
plans in similar chapter 11 cases.
The departure of any of the KERP Participants during these chapter 11 cases would disrupt ongoing operations at an important phase in the Debtors’ restructuring process. As a result, the Debtors believe implementation of the KERP is necessary and appropriate to avoid costly disruptions to the Debtors’ businesses.
Certain of the Debtors’ employees may be motivated to leave the Debtors’ employ during the pendency of these chapter 11 cases due to, among other things, the uncertainty created by the Debtors’ ongoing restructuring efforts.
The proposed payments to KERP Participants will not exceed $35,694,441 in the aggregate, and the potential targeted payments range from approximately $30,000 to $233,282 for any one KERP Participant (assuming satisfaction of any applicable performance criteria at target levels). The maximum payment for any one KERP Participant, assuming satisfaction of any applicable performance criteria at maximum levels would be $282,266. The Debtors will reserve an additional $2,000,000 for the KERP Reserve Pool (as defined below). As such, the proposed KERP will not exceed $37,694,441 in the aggregate.