Has anyone who’s opted to take the LAPC VSP but still working considered filing for COC now because of the 4.9% paycut and loss of 2020 LTI award? The lump sum and PTO payout will also go down. Surely all of this should be enough to trigger COC.
How can they get away with this?
And how is it legal to keep screwing people over pushing out their VSP dates?
The madness has to stop.
@wgd+14c9mjGF - source for those statements?
Guys the company is insolvent. They only have $$$ to keep the lights on for a couple more months with zero chance of accessing capital markets. Asking HR is futile. They’ll never act in good faith. Your best chance is to lawyer up and be as annoying as you can. Squeaky wheels gets the grease. The only reason LOXY was cut 30% base and there were no layoffs is because there is not enough money to pay the folks laid off their vacation balances.
I know several people who’ve asked HR if this will affect their lump sum and it’s been radio silence in regards to that. I think ever VSPer needs to start asking for answers.
We have 45 or 90 days from April 1st (triggering event) to request COC. Given the COVID19, I’m debating on whether I should wait to file COC.
I think their biggest strength right now is they’re keeping us separate and in the dark.