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Monday, December 08, 2008

 

LAT Stops Severance Payments!*

Ho-ho-holy shit!

Apologies to the faint of heart, for whom a word like "shit" might offend, but ... seriously HOLY SHIT! You want to get offended? Check this out ...

Remember the casualties of the last Los Angeles Times layoff?

Unfortunately it appears some of those folks are still within gut-punching distance of Tribune Co. owner Sam Zell.

Today's bankruptcy filing has apparently put at risk all severance payments that have yet to be paid in full. What that likely means is that anyone who received more than two months severance after the October layoff might be out the remainder, at least temporarily, as of today ... just in time for Christmas.

From Tribune's internal Q&A via LA Observed:
All ongoing severance payments, deferred compensation and other payments to former employees have been discontinued and will be the subject of later proceedings before the Court. Please contact call the Tribune Benefits Service Center at 800-872-2222 for details on your specific situation.
* UPDATE: LA Observed has a memo from LA Times HR that says severance payments are going forward. The HR memo also blames reports to the contrary on "public speculation," despite the fact the information came from one of their own in-house Q&A memos. The check is in the mail!

— TJ Sullivan in LA
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1 Comments:

Blogger KC_Compton said...

Here's a little something for your years of loyalty, service and hard work. Ohhppp...nivver mind ...

What a recipe for cynicism ...

Monday, December 8, 2008 7:47:00 PM PST  

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