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1. lnxw48a1 (lnxw48a1@nu.federati.net)'s status on Friday, 25-Nov-2022 14:55:41 EST lnxw48a1
   > Due to unforeseen circumstances, the company is forced to immediately terminate the employment of all employees
   
   https://www.youtube.com/watch?v=ZbnYjiiQxhc
   
   What? How are you a top manager and did not foresee the possibility of an economic slump affecting your business?
   
   Let's rewrite this: due to managerial incompetence, we are closing down without advance notice. You'll have to sue us for the legally required 60 days of severance pay.
   1. GeniusMusing (geniusmusing@nu.federati.net)'s status on Friday, 25-Nov-2022 19:15:11 EST GeniusMusing

      in reply to
      @lnxw48a1
      Some more details to read, TLDR: They were in trouble already.
      
      Update: Details emerge on Lane's termination of all employees Furniture Today
      https://www.furnituretoday.com/financial/report-lane-shuts-down-all-employees-terminated/
      
      snip
      
      >In June of this year, the company terminated its CEO, CFO and executive vice president of sales, and named former Standard Furniture President Todd Evans as CEO. The company subsequently restructured its sales organization and named Ruff Thomas and Keith News to sales leadership roles, with Thomas named president, sales for Lane’s domestic division and News named to the role of president, sales for Lane’s import division.
      >
      >One month later, the company laid off 300 employees and closed or repurposed several facilities. This included closing its metal stamping facility in High Point; transitioning a manufacturing factory in Amory, Miss., to a warehousing-only facility; and transitioning a Winston-Salem, N.C., operation to an East Coast distribution center.
      >...
      1. lnxw48a1 (lnxw48a1@nu.federati.net)'s status on Friday, 25-Nov-2022 23:39:04 EST lnxw48a1

         in reply to
         @geniusmusing The lawsuits have begun. https://nu.federati.net/url/288632 [www furnituretoday com]
   2. lnxw48a1 (lnxw48a1@nu.federati.net)'s status on Saturday, 26-Nov-2022 00:14:00 EST lnxw48a1

      in reply to
      I just thought of something else. If the company has pension plans, they'll have to be transferred to the Pension Benefit Guarantee Corporation ( #PBGC ), an agency that seeks to protect employees' pension benefits.