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by itsoktocry 979 days ago
>If things are dire enough to close up shop now, they probably were dire enough to close up shop 2 months ago, and you can use the cash to give your employees some runway for finding new employment.

This might be true, but personally I'd rather the company try to remain a going concern.
2 comments
sangnoir 979 days ago
> This might be true, but personally I'd rather the company try to remain a going concern.

You could refuse the severance as an employee if you wish to go down swinging.

Edit: Knowing the company is doomed in a month or 2 and not employees offering severance is not a good thing yo do, in my book.

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JumpCrisscross 979 days ago
> Knowing the company is doomed in a month or 2 and not alerting employees is not a good thing yo do, in my book

Has anyone at Convoy claimed this?

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sangnoir 979 days ago
Not just alerting, but offering severance. No one at Convoy was offered severance - now or in the past month. I edited my earlier comment to reflect my meaning.
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JumpCrisscross 979 days ago
> Not just alerting, but offering severance

Separate questions. You said the company knew it was "doomed in a month or 2 and [did] not [alert] employees." I've seen them messaging pain since their multiple rounds of layoffs last year and this [1], as well as in August [2]. Moreover, I haven't seen claims of employees being blindsided (as Yellow drivers were).

[1] https://www.geekwire.com/2023/trucking-marketplace-convoy-ma...

[2] https://www.theinformation.com/articles/digital-trucking-com...

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quickthrower2 979 days ago
In the limit this means go insolvent/bankrupt and not pay out to creditors such as lease, caterers, cloud services. Finish with unpaid taxes and wages.
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pc86 978 days ago
I'd always rather see employees get payouts on shutdown compared to companies, especially things like billion/trillion-dollar cloud companies and commercial real estate.

That being said if you're burning $30M+ every month in the current financial market I really hope you cancelled all your catering contracts a long time ago.

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quickthrower2 978 days ago
Depends: food can dupe people into working extra hours for free. They think they are having a lunch break as they talk shop while chewing on their ciabatta.
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