This might be a stupid question so I apologize in advance, but I've heard that in case of bankruptcy employees who are laid off are not entitled to severance? Is this true? If it is, then it makes this whole situation much worse than it seemed to be at first. A lot of us are hoping to leave and wouldn't have minded being laid off. But being laid off without severance? That's something else entirely.
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Io stock is now 12 cents.
ion's market cap is now half the value of its ceo's colorado home.
IOC severence payouts are legendary. Creation of oil services was to reduce costs (and for highly specialized tasks), so why would you expect a severance payout if it can be ignored? And yes, oil services Officers get as much as they can with no regard to their worker bees. You always sensed that you were working in a wh*re house. Now you know.
Execs get $$$ payout, regular employees get nada. ‘Merica
Unfortunately you won’t get a dime other than whatever statutory amount from the US government, if you are in UK I believe you get something from gov there. Ironically all the less useful employees who have been laid off in recent years probably got a good package to leave, life’s unfair, get a new job ASAP don’t wait for anything from ION