Qimonda: $1.24 million to spread out among 46 of the company's most important remaining employees. (Richmond: sales, attorneys)

[Anders15]

Posted: July 1, 2009 03:45 PM
Updated: July 1, 2009 04:10 PM
HENRICO, VA (WWBT) - Months after their final paychecks bounced, many Qimonda workers are protesting a new bonus program being paid to the co-workers who kept their jobs at the Eastern Henrico plant.

Many were shocked to find out that the chip-maker somehow pulled together $1.24 million to spread out among 46 of the company's most important remaining employees. So they organized a protest in hopes of getting a piece of that pie.

Former Qimonda workers protesting today were angry. Some of them, perhaps, even going broke by now -- months after they were laid off from one of the region's largest employers.

"Feel like we got robbed. Plain and simple," said John Tiemann, a former Qimonda employee. "They never paid me my 401(k) or bunch of other people's, and I found out a few others didn't get their last paycheck."

Their anger comes from a judge's ruling allowing the payments.

Qimonda calls it an incentive program -- to keep a core group of engineers and support staff around while the bankrupt company winds down its business.

The laid off workers are crying foul -- because it's money they say, belongs to them.

"Because it's what we've earned," said Mark Turner, another former Qimonda employee. "We were loyal employees right up until the end up to the day that we all left, and this is money that is owed to us.

The money amounts to a maximum $27,000 dollar bonus for each of the 46 workers who are still employed here.

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Here is the article & video report, is anyone else here outraged?!

[BayAreaHillbilly]

Bankruptcy is never good. The outcome always seems very unfair to those who are not at the front of the line.

However, consider the customers' point of view. They want continuity.

[Anders15]

Originally Posted by BayAreaHillbilly

Bankruptcy is never good. The outcome always seems very unfair to those who are not at the front of the line.

However, consider the customers' point of view. They want continuity.

A) If they were "bankrupt" where did this extra $1.24 MILLION for the "most important employees" come from?

B) Some of the people working there have been there for WELL over a decade, most without a proper raise! They were lied to and told they would be getting their proper pay as a result of the layoffs.

C) These people were robbed out of their money. Not only did they not get their 401k but their last paycheck bounced as well. Like I said these people were working there over a decade and were accustomed to the pay.

As far as the customers go it seems they are part of the cause of the Microsoft's Xbox 360 well know hardware failures. So it seems this company likes to half*** everyone.




Here is a reply left from a actual former employee:

"I was employed by White Oak Semiconductor (Qimonda's original name), and it was a different world, back then (1997-1999).

There are some pieces of information that have been glossed over by everyone, including the media. First, the folks who are protesting are not cry babies who wish they had more PTO paid to them, or folks who were clock punchers out for themselves. People who were laid-off after 2/20/2009 haven't even received their last paychecks!! People knew that they weren't going to get their check, two weeks before they didn't get it, yet went to work anyway. (If you quit you aren't laid-off, are you?)

Now, some judge who probably refers to a micron as something he's heard of and is "really small", decides that the folks who are left get a reward. Guess what? The folks who are left chose who got fiired!!!! Reward them? Has Madoff's attorney, or ENRON gotten wind of this loop-hole?

During the early stages of this catastrophe, folks who were working in the obsolete 200mm section were offered the ability to keep there jobs by moving to 300mm or receive a severance package, PTO, sick-time, and their "last check". Hope for a sale was paramount, so many chose to remain emplyed and keep up the fight. They were rewarded by being the first wave of layoffs that received no severance less than 3 months later. Who's idea was the 300mm offer? Are they getting rewarded?

The workers highlighted in the story are of the highest caliber mentally, morally, and professionally. I would encourage any HR personnel who are reading this comment to get a head-start on the wealth of talent available. Any position being offered in Richmond, or its vicinity, can be filled from within this amazing human resource.

If you are reading this post, and have political authority to step in, I beg that you do what you were elected to do. Elections are never far enough away. People are watching what you don't do, just as much as what you do. I know a lot of folks who agree. (see attached petition, multiply by the average number of friends each has the ability to influence, subtract the number of your immediate and extended family members, then calculate the cost of buying the difference.)"

[BayAreaHillbilly]

You need to learn more about the meaning of bankruptcy. It does not always mean there is no money left. It is more of a legal status for a company.

[htlong]

Originally Posted by BayAreaHillbilly

Bankruptcy is never good. The outcome always seems very unfair to those who are not at the front of the line.

However, consider the customers' point of view. They want continuity.

why dont you consider ssomething that makes sense!

[Pruzhany]

This is no different than any other large corporation. Actually this is nothing compared to what Circuit City did in its last two years of life. Check out the following two links.
Circuit City Grants Pay to Stay - - CFO.com, Circuit City wants to pay execs bonuses | InsideNova.com (http://www.insidenova.com/isn/news/local/article/circuit_city_wants_to_pay_execs_bonuses/29633/ - broken link)

The first one gave away $16 million and the second one was nearly $5 million. Plus what is not written is that these same people got a percentage of the liquidation sales also.

[BayAreaHillbilly]

Originally Posted by htlong

why dont you consider ssomething that makes sense!

As a customer, I want there to be a core of people who continue to operate the business. I could care less about whether or not some worker bee got compensation for a bounced check. That is a matter for the attorneys managing the bankruptcy, not me, the customer.

Harsh? Yes. But that is how the real world works.

[vman650]

So ends a very sad and tragic history of high tech in the Richmond area. It started with the games played by Motorola with the maybe we will come and maybe we won't. This after the region spent a small fortune on roads and infrastructure to accommodate the move that never happened. We end up with a new engineering school at VCU training specialists for jobs that do not exist and a bunch of empty buildings out in the east end with expensive roads and infrastructure paid for by the taxpayer.

[BayAreaHillbilly]

Try to get Hynix in there.

They are up and coming.

[Anders15]

What?