Next round will hit you soon. NO SEVERANCE AT ALL. Leaders lying daily about the health of the company. Bills are not being paid. This isn’t a sinking ship, it’s a ship that left everyone at the dock while they take the money and run.
I'm asking about the severance part.
Re: Digital River Employee feedback:
Did you receive an email from DR sent to your personal email after you were notified in the morning meeting back at the end of July?
From your description, it didn’t seem to be the case. I heard that the last payday for some laid-off employees was August 1st, so the health insurance was available until August 31st. It was written in that email sent to the employee's personal email, but having no severance pay and only one more month of health insurance really is terrible.
(DR emailed every employee asking them to fill in their personal phone numbers and personal emails. I guess you didn’t fill them in)
Well they will not go unpunished. They will end up like FTX and SBF
Digital River Employee feedback:
None of the US employees received any severance when they lost their job with zero notice in July. Some had been working here for decades. The owner and CFO even rushed the layoff to the end of July so the employees didn't receive August medical benefits. This was exactly one week after the new owner rallied the company for an exciting future.
EU and other countries do receive their mandatory notice of the legally required severance, but it is just a letter until it's paid. If Digital River runs out of cash before it's paid out, they are probably out of luck.
The new owner has already paid himself and his companies many millions. The new CFO is also taking large bonuses every month to execute the plan. In my opinion they will drain every penny to their personal accounts and then disappear.
Gods...
I left DR back in 2017. I remember when MyCommerce was first built.
It was never finished by the time I left: it just had patches, here and there, but none of the full features that had been in development when the senior programmer left for a better position, elsewhere. For years afterwards, the coders kept having to make tweak after tweak as their jobs got harder to meet with demands (due to a stagnant codebase) that reflected new needs in the eCommerce space.
Then, they started money-saving tactics: shipping out those coders' jobs overseas. I saw it all in 2016/2017: all the coders were wrecked by the time they were termed.
To hear they had yet another greedy and myopic CEO really doesn't surprise me. There was no vision from up-high except "How can we squeeze more money out of clients without doing any work?"
Ever since it went private and its best coders, account managers, and sales team leaders left (most were termed but some left in order to get away from the catastrophe-in-waiting) it was only a matter of time.
I'm really sad to hear that there are no severance packages: those were 6-months at one time, back in 2016!
The rich are definitely getting richer on the backs of employees and clients.
If you've been affected by the layoffs and wish to speak confidentially to The Register, please feel free to email tclaburn (at) theregister (dot) com
https://theorg.com/org/digital-river-inc
Filling history:
https://find-and-update.company-information.service.gov.uk/company/05788465/filing-history
You can see the evolution of this shitstorm here.
They seem to be still collecting money from end users and not paying a single penny to any publisher since July.
Its a simple scheme what Barry Kasoff is doing here:
And he can do that without any risk to end up in jail?
Count me in for class action lawsuit.
If you don’t get your due money by November 15th, I’m afraid you’re in the hole for their failure to pay. They know they can’t pay, and are scamming their way through this.
Dear fellow vendors,
I’m writing to express my deep disappointment with Digital River and its handling of payments owed to vendors. My company is owed $30,000 for sales dating back to July 2024. Despite their change of payout terms from net15 to net60, payments remain overdue, and communication from their support has been vague, very generic, and mis-leading.
I know my loss is relatively small, but from what I've seen in reviews and reports, I am not alone in this situation. Many of you may have lost much more, and it's clear that Digital River’s actions could warrant a class action lawsuit. While I am not in a position to lead this effort, I encourage those who are facing similar issues to consider joining forces.
If you are interested in banding together to hold Digital River accountable, please feel free to reply to this post. Together, we can explore the potential for legal action to recover what is rightfully ours.
Thank you for your attention, and I hope we can turn this into a productive effort.
they have deceived by hiding the situation since July this for digital river gmbh means fraud and they cannot hide behind limited liability we already have a lawsuit underway. they will also answer with their assets
See hundreds of digitalriver victims:
https://www.kvraudio.com/forum/viewtopic.php?t=612462&start=75
I hope the management goes straight to jail... and that all the vendors are paid out.
Btw, DR also owes sales tax/VAT to multiple countries' tax authorities. Most notably of course the USA and the EU.
No one received a severance during the big kick in the pants when the new owner stepped in. US Sales team was told the week prior that they were safe. After all, you have to SELL to earn revenue. They were cut with nothing. Access was cutoff, and they were on the street. That’s the kind of company this is now.
Now they’ll take the revenue from their partners and customers then close up for good.
Again, no Sales team should tell you everything.
I hope the CEO and CFO realize when this closes, it’ll be on their resume for failure.
Its a simple scheme what Barry Kasoff is doing here:
and walk away hundreds of millions of US$ richer than before...