Worldcom: From the Inside > 330 WorldCom employees laid off in Tulsa

330 WorldCom employees laid off in Tulsa

Just like usual, the workers (mostly good ones normally) get let go while the big cats (save a couple, thankfully, this time) stay to prepare the big payouts for themselves.

There should be a rule that if a company has a layoff (any layoff, including higher than normal numbers of terminations for cause), the management may not receive:
* any options (current or deferred)
* bonuses
* benefits not available to the lowest paid full time employee
* any severance package must match the lowest given to any relieved workers
* management's salaries should be reduced to no more than 4 times the salary of the lowest paid employee (current or released)
* management must move from their office to the cubes of one of the released workers. No changes to any of the cubes is allowed.

These limitations must last for a minimum of 5 years after the last of the released employees are hired at a new job that is no worse than the one the were relieved from. And there must not be any actions that in any way return the lost wages, benefits, etc. that this rule causes management to have. At the expiration of this waiting period and for 5 years after, they are limited to receiving no more than were receiving when these limitations were applied. These limitations apply to the management that was active when the reduction happened as well as to any added during the restriction period.

Put these rules into affect and see just how few of these “rightsizing” actions are really necessary.

reply to kcttocs
My wife works over there, and luckily she has been spared - for now. The problems that I have with the news reports is that, at least what I have been told by those that I know over there, is that the layoffs have nothing directly to do with the announcement made about the misappropriation of ~$4,000,000,000 in debt. Heck, my wife has been talking about the layoffs that happened on Friday for weeks. Unfortunately, the news bimbos camped outside the Cherokee facility cannot - or will not - separate the two.

reply to BigDaddy05
Didn't the SEC file fraud charges? Doesn't this prevent all the top brass at Worldcom from receiving any golden parachutes or special bonuses? If this is the case, then I think every one of those on the board be immediately investigated and arrested. Sell their mansions, cars, vacation homes, etc. Put all that money back for the employees.