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is there anything preventing companies from laying people off as far as something like taxes go.
i know that in most states you can be fired for any or no reason but i think i remember signing a personnel document that stated i can only be terminated for negligence or fraud (and probably layoff as well).
but when we buy companies, some of my good co-workers would be layed-off. is there some sort of penalty they would have to pay or does firing someone mean the same thing as laying them off in this context ?
The penalty for laying off or firing workers is typically morale/reputation and monetarily higher unemployment premiums when the worker files for UI plus whatever severance the company offers.
Firing usually means for cause ie the worker did something wrong and laid off usually means lack of work or funds for the worker.
so even if i cant be fired without cause i can still be layed-off ?
can the cio's nephew take my position the next week ?
Quote:
Originally Posted by MSchemist80
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Firing usually means for cause ie the worker did something wrong and laid off usually means lack of work or funds for the worker.
it seems kinda' random that people are being layed-off because there is not enough work but we are hiring a lot of off-shore consultants because there is too much work for our on-site staff to handle.
i assumed there was some sort of government thing to prevent this scenario but i guess not.
Last edited by stanley-88888888; 01-26-2016 at 10:27 AM..
It depends if the old company had contracts in place then those contracts have to be managed as part of the take over. You cant just throw away a bunch of legal contracts because you buy a company.
The problem is most of the employees are likely at will, so if there is even talk of merger you might as well start looking for a new job. Some people get lucky and actually come out really nice in a merger, they will survive the cuts and end up with fatty bonuses but that's rare.
Quote:
Originally Posted by Steve Bagu
When a company changes ownership, the NEW owners are only obligated to retain the current employees for 30 days.
Then they can stay on or be layed off w/o any penalties by law. Any old agreements by the old MGMT is lost.
Agreed. If you want examples just look at big pharma Pfizer in particular. They buy small biotechs if they have a promising product and fire everyone. The former Wyeth employees still sell T-Shirts saying I got Pfired.
If you work for a small company like that without being part owner or having a strong contract in place then you are foolish.
Quote:
Originally Posted by MSchemist80
Agreed. If you want examples just look at big pharma Pfizer in particular. They buy small biotechs if they have a promising product and fire everyone. The former Wyeth employees still sell T-Shirts saying I got Pfired.
Fired means they terminated u for a cause. For fired employees...it's definitely ur fault.
Being laid off means a reduction in force due to leack of work or needing to reduce. Sometimes good workers get caught in layoff. From working in a company which is none for laying off due to not getting enough govt contracts...some on layoff list are on there because of attendance, performance, having HR issues, jobs being eliminated due to consolidation, not getting along with management or simply not being best friends with management. It's scary because if ur management don't like u for any reason...U can get laid off and u can't appeal it.
Layoffs usually involves severance pay and being fired doesn't because u were fired for a reason. Layoffs doesn't have to involve a reason.
if a corporation is making profits; and they wanna' get rid of thousands of employees so that the stock price goes up.
is there any penalty if they lie and say they need to lay people off in order to remain profitable and make payroll.
when i was really young i used to think that a company had to file a chapter-11 before they were allowed to use the term lay-off.
I got laid off a month ago and my company is most definitely still operating. When you are laid off you can file for unemployment since you were terminated through no fault of your own. I had a glowing review and was actually up for a promotion when I was laid off.
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