A friend of mine had been working for Nortel for a number of years and found out in March that he was going to be made redundant. This is a sad story in itself, but it’s made worse by the way that Nortel’s administrators Ernst and Young have implemented these redundancies.
They’ve chopped these UK employees out without giving any notice, nor giving them their contractually-agreed notice pay. All they’ve got is the measley statutory redundancy pay (as paid by the tax payer) and subsequent job-seekers allowance of £65 or so a week. All this while paying $23million in bonuses to some executives while these redundancies were being announced.
It stinks, and they’ve been protesting in London:
Watch this and hope that other employers don’t try the same thing.
The system is broken. If there’s money in the company to pay bonuses then there’s money to pay a fair severence to the unfortunate many that have been cast off. Shame on you Nortel.