If your employer files for Chapter 11 bankruptcy, it may drop its employee insurance benefits, cut employees' hours, or lay people off. If you keep your job, you may be able to keep your group insurance coverage if your company maintains its group plans.3 Health Insurance and COBRA Should ...
While the PBGC does a lot to protect your pension if your company goes bankrupt, it's unable to guarantee the following benefits: Severance packages. Vacation pay. Disabilities that occur after the bankruptcy begins or after the plan's termination date. Health and welfare payments. Lump-su...
Signs and Causes of Company Bankruptcy For limited company directors, there are usually some clear warning signs you’re approaching the threshold of insolvency[1]. Key warning signs include: Consistently late payments to creditors, suppliers or employees Banks refusing finance Legal actions against you...
surpassed by the bankruptcies of Lehman Brothers, Washington Mutual, WorldCom, and General Motors. The Enron scandal drew attention to accounting and corporate fraud, as shareholders lost $74 billion in the four years leading up to its bankruptcy, and its employees lost billions in pension ...
What United Bankruptcy May Mean for Employees, Fliers, ShareholdersByline: Mike Comerford Daily Herald Business WriterComerford, Mike
What happens when a business owner dies? This depends on whether there is a death plan. One of the most challenging positions running a business puts you in is moving forward after an owner’s death. It’s a grim thing to think about, but it has to be addressed to protect employees, ...
The bankruptcy is immediately driven by: $65 million debt payment today they were going to miss Failure to obtain a government bailout or other support This is being widely blamed on the coronavirus crisis. That’s certainly true, but financial challenges predate the current pandemic. Last summer...
There’s nothing like a manager fostering internal conflict. Employees, once proud to don the Sears badge, found themselves navigating a labyrinth of conflicting directives. Morale plummeted like a rock. Water cooler conversations turned into debates over the latest strategy ploy, leaving staff more ...
When a startup’s liabilities outweigh its assets, balance is necessary. That is when laying off employees becomes a crucial decision if the startup intends to remain afloat. Cellulant, one of Africa’s oldest startups, laid off many employees last year after it failed to secure $100 millio...
The fallout included the bankruptcy of prominent companies like Pets.com and Webvan. While the Dot-Com Bubble Burst had a significant impact on the technology sector, it also led to increased scrutiny of financial markets and a reassessment of investment strategies. 5. The Global Financial Crisis...