Even if you believe you're safe, my advice is to prepare for potentially being laid off. The cuts that will happen as a direct result of Chapter 11 will be brutal. Google other companies that went through this situation and you'll see I'm right.
3 replies (most recent on top)
Not to be negative but filing for chapter 11 may just be the first step to a chapter 7. Do they have a buyer lined up for the company already? If so the person buying 2u may still clean house to get a whole new crew in, OR they may just make it so it's only the headquarters open with the rest outsourced to SA
Almost every company that does through chapter 11 goes through rounds of lay offs. The new owners want to start recouping their investment as soon as possible.
The only saving grace really is that we’ve been through so many rounds of lay offs and natural attrition that many areas are already cut to the bone in terms of staffing. There is much more they can cut and remain operationally sound.
Actually I think the opposite - now that the debt has been lowered and there is some cash I'd expect layoffs are over