CLEAR CHANNEL PRIVATIZATION ANNIVERSARY IS THURSDAY

[and.u.r?]

Since Clear Channel was privatized July 30,2008 this Thursday is the one-year anniversary.From what I understand as of July 31,2009 if the company lays you off they are not required to pay any severance since apparently the SEC filing stipulated severance terms of anywhere from one to nine months pay if terminated.Does anyone think this could mean more Clear Channel layoffs after Thursday?I realize people will say there is no one let to pay off but there actually is and everytime layoffs occur people say that's the end of it but it never is.Any opinions?

 

[oaktree]

That's exactly what it means.

Also, paying "severance pay" is not a law, unless it is contracted. There is no law that says a company has to pay a terminated employee severance pay whatsoever. Accrued vacation time, yes. Sick time and "severance," no ... not unless a contract so says.

Will there be more layoffs? Yes. In bulk? Unlikely. But when they do ... quite possibly without severance. It's the ethical thing to do, but not a law or a must to do so.

 

[Moonstruck]

Well the advantage of no severance is that you're under no obligation not to bash Clear Channel publicly after you're let go. With severance there's this gag order and you could jeopardize the money. Of course public bashing using your own name could hurt you in getting another job anyway but then who would use their own name.

 

[oaktree]

There is no gag order for severance pay while working for Clear Channel. It's either part of their policy to pay it or not. What you do ... good or bad ... is your decision.

They don't use severance pay as a gag rule to prevent you from talking bad about them. Most people don't go to message boards to complain about Clear Channel. Only those who don't like Clear Channel for whatever reason (and there are, certainly, a lot of them.)

I assure you, most of the 2400 people laid off from CC this year didn't rush to message boards to complain. They are professional, mostly, and looking to take care of their families and themselves.

Also, not all Clear Channel staffers are under any employment contract at all ... in fact, a lot of them are not.

 

[and.u.r?]

Message boards are only the tip of the iceberg.I swear I've read that one condition of severance is that you don't comment negatively to the media,etc if you're let go.I thought I understood it applied to family members,etc making comments.More often than not,locals laid off from Clear Channel have "no comment" when let go.It isn't just message boards which are anonymous anyway but someone just mouthing off about the station or company to the local newspaper or tv station.

 

[wknd92]

Message boards are only the tip of the iceberg.I swear I've read that one condition of severance is that you don't comment negatively to the media,etc if you're let go.I thought I understood it applied to family members,etc making comments.More often than not,locals laid off from Clear Channel have "no comment" when let go.It isn't just message boards which are anonymous anyway but someone just mouthing off about the station or company to the local newspaper or tv station.

They have no legal leg to stand on, you are let go, whatever money you get they can't hold over your head. If you are smart, though, you won't say anything because you don't burn bridges....you never know where the next job may be and which company it may be with and if another Clear Channel position opens and you've bad mouthed, you are not going to get it for sure!