In case liquidation turns out to be inevitable, what does that mean for our severances? I've been trying to find some info on this online, and everything I managed to find so far is not good for employees.
Does anybody know the answer to this question for sure? Will we get a severance if the company liquidates?
If it reaches liquidation stages it's not guaranteed that you'll receive your PTO paid out. You'll be lumped in to the prioritization buckets just like any other debtor.
Best you can do is keep your PTO topped off and hope for the best.
Severance? That’s a laugh, you’ll be lucky to get paid what you are owed in wages and accrued vacation without having to stand in line with all of FTD’s other creditors.
ftd employees are toast.
Nope. Your chance for a severance was last July. Banks and shareholders get paid first.
Severance? Don't even get your hopes up. Read the recent SEC filing, the company doesn't have any money to pay it's obligations including outstanding loans of $217 million if a buyer is not found. Do you really think you are going to get a severance under these circumstances?