3 ms·

>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 s

>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.

deleted 3y ago
[deleted]
sangnoir 3y 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.
- JumpCrisscross 3y 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?
  - sangnoir 3y 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.
    - JumpCrisscross 3y 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-makes-more-layoffs-citing-customer-service-efficiency-gains/ https://www.geekwire.com/2023/trucking-marketplace-convoy-ma... [2] https://www.theinformation.com/articles/digital-trucking-company-convoy-explores-options-including-a-sale?rc=gtdonx https://www.theinformation.com/articles/digital-trucking-com...
quickthrower2 3y 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.
- pc86 3y 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.
  - quickthrower2 3y 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.

deleted 3y ago

[deleted]

sangnoir 3y 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.

JumpCrisscross 3y 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?
- sangnoir 3y 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.
  - JumpCrisscross 3y 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-makes-more-layoffs-citing-customer-service-efficiency-gains/ https://www.geekwire.com/2023/trucking-marketplace-convoy-ma... [2] https://www.theinformation.com/articles/digital-trucking-company-convoy-explores-options-including-a-sale?rc=gtdonx https://www.theinformation.com/articles/digital-trucking-com...

quickthrower2 3y 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.

pc86 3y 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.
- quickthrower2 3y 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.