In case of bankruptcy, do we still receive severance?
The way things have been going for Dean Foods lately, I'm starting to think bankruptcy might happen after all. So if it does happen, it would be good to know where it would leave us employees in regards to severance.
Any info would be great.
At what point would Dean Foods have to submit bankrupt? What would 100%
I don't trust anything any HR rep says. Our plant has the most worthless HR department I've ever seen at any company in existence. All you get is here's an 800 number, good luck. The "HR Business Partner" and her minion could both disappear and the plant would be better off and run more efficiently. All she does is hide in hey office and color in her little coloring books anyhow.
I trust the HR rep who’s an insider over what Sears did. Just my opinion.
I’m not sure what will happen if DF goes bankrupt as far as severance goes. My plant was closed and we received 1 week of severance for every year of service. I would think if DF does file for bankruptcy there would be a reorganization of the company (sort of like Sears) and they would be allowed to continue operations. That doesn’t mean they wouldn’t close down more plants (Sears closed more stores). Maybe this Business Insider article on Sears will shed a little light on your question about bankruptcy and severance packages. Wishing you the best. https://www.google.com/amp/s/amp.businessinsider.com/sears-severance-pay-kmart-employees-2019-1
Exactly. You will be forced to cash out any remaining pto. And everything else will be eliminated. You will be forced to transfer your 401k and pensions into another provider. There will be no extra payment from Deans corporate. So be prepared to have another job lined up.
Yeah....you get severance. A full weeks pay after your forced to cash out your pto. And a golden ticket to the unemployment line. NEXT!!!!