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THURSDAY, NOVEMBER 26, 2009
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NEWS ABOUT: severance pay

severance pay stories: 5 news summaries

Hard Times Catch Up with Well-Heeled Jobless

Generous severance packages start to sputter

Nov 11, 09 7:07 AM CST
(Newser) - Time and money is finally beginning to run out for large numbers of people who lost their jobs, and have been living off hefty severance packages for up to two years. Many workers who received generous exit packages from the financial and auto industries kept on spending the way they... More »

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unemployment • auto industry • financial sector • severance pay • auto worker

 Citigroup Halts 
 Payouts to 
 Former Execs 

Promised severance packages curtailed to avoid public anger

Jun 2, 09 5:07 AM CDT
(Newser) - Citigroup has told several of its top former executives that it will not pay out millions in promised severance pay, reports the Wall Street Journal. The bank has already forked out more than half of the $100 million it had pledged to five or so senior employees, but it is... More »

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Citigroup • executive compensation • bank • Wall Street bailout • severance pay

(Newser) - In the latest demonstration of French employees refusing to take job losses sitting down, workers at a glue factory took 3 British execs and their French manager hostage last night, and released them today, the BBC reports. The “bossnappers” demanded a renegotiation of their severance package from Scapa, which... More »

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Segolene Royal • Nicolas Sarkozy • France • kidnapping • recession • adhesive • auto industry • labor relations • management • boss • severance pay

Microsoft U-Turns on Severance Clawback

Company tells laid-off workers they can keep severance overpayments after all

Feb 24, 09 3:26 AM CST
(Newser) - Microsoft is moving to stem a flood of bad publicity by letting laid-off workers who accidentally got too much severance pay keep the extra cash, TechCrunch reports. The workers, who lost their jobs last month in Microsoft's first-ever mass layoffs, contacted news media after receiving letters from the company asking... More »

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Microsoft • layoffs • mistake • severance pay

 Factory Sit-In Ends in Victory 

Workers win severance and benefits

Dec 11, 08 2:44 AM CST
(Newser) - Laid-off workers who occupied a Chicago factory have agreed to end their sit-in after winning severence pay and benefits, Reuters reports. Each of the 200 workers at shuttered Republic Windows and Doors will receive two months pay, accrued vacation and two months health care coverage. The $1.75 million cost... More »

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Wall Street • Chicago • Bank of America • bailout • JPMorgan Chase • Main Street • financial crisis • Republic Windows and Doors • Rep. Luis Gutierrez • severance pay • lay-offs

5 Stories


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