Well, the gut punch that no one wants and many people eventually get in their careers happened last thursday. Our company had been under financial stress due to a lot of mismanagement at the top, but it seemed we had a longer timeline than basically everyone thought. I had a few questions just to make sure I'm not missing anything:
We were publicly traded, and the company filed an announcement to suspend operations on 2/29, but it sounded like from my boss that they weren't going to be doing the bankruptcy declaration until at least 3/1 if that makes sense? If that's the case, I assume I have healthcare for the rest of the month at the least, but would there be a chance of next month as well?
Also, I have a laptop and two monitors the company provided, but given that we've received no communication from the company about sending those back, how long do they have before this stuff just becomes mine? I'm not that interested in keeping it, but I want to remove it from my mental list either way ASAP.
Lastly, since the company was 100+ people, and we were all laid off literally in the middle of the day, does the WARN Act apply here at all? I read part of it that said if a company was trying to find financing it was exempt so it didnt scare away investors or something like that, and I know they were actively looking for a buyer.
Anything else I should know about a layoff like this, or is it pretty much the same suck as all others? Also, do headhunters/recruiters exist for companies outside of IT?
Thanks in advance.
original posted by argent_pixel to r/personalfinance on Mon, 04 Mar 2024 13:52:39 GMT.