Sunday, July 11, 2010

Screwed!

Yeah I know it's been a while.  Lots of stuff happening, most of it not too good.  Mainly I've been freaking out over this: 

Nortel seeks to cut retiree benefits to 4,000
http://www.reuters.com/article/idUSN2215538920100622

That includes me.  Yes, in a few weeks not only will I stop getting paid but I'll have to start paying for my insurance and meds.  I'll have NO life insurance.  < insert screaming here >

First I got a notification that they were petitioning the court for approval to stop all the benefits.  So I started freaking out.  The court date isn't until July 16th so I thought I had a little time to get everything together.  Nope wrong.  Two days after the notification I got my termination papers. I totally freaked.

Here's all the information.  Nortel is currently in bankruptcy not going for reorganization but going for total liquidation.  They are self insured. All the rules go out the window once you go into bankruptcy.  Being self insured means they are paying my LTD not someone like Aflac.

After consulting with a very good attorney he confirmed that I am in fact screwed.

I knew this day would come but I was under the impression that as long as the "doors" were open that I couldn't get fired.  Well, I was wrong.  Very wrong.

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