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Bed Bath & Beyond didn't pay severance to thousands of workers. The company laid off more than 1,000 workers in New Jersey days before a new severance law took effect. In early February, Diane Zaccagna learned that the Bed Bath & Beyond store in New Jersey where she had been working for 18 and a half years was closing and she would be laid off. "We knew Bed Bath was in trouble, but we thought we would have at least a couple more years," said Zaccagna, 50, who started out as a part-time employee and climbed her way to a...

Companies can no longer offer severance agreements that prevent employees from making disparaging remarks about their former employer, the National Labor Relations Board ruled Tuesday. The big picture: The federal agency said these agreements require employees to waive their rights under the National Labor Relations Act, and that such policies are a violation of the act. According to the NLRB, "the employer’s offer is itself an attempt to deter employees from exercising their statutory rights, at a time when employees may feel they must give up their rights in order to get the benefits provided in the agreement." Employees also...

The firm that laid off nearly 900 employees on a mass Zoom call has reportedly fumbled another round of company layoffs. TechCrunch reported Tuesday that a portion of the 3,000 or so Better.com employees who were set to be laid off this week received pay slips for their severance checks — before they were told they were going to be laid off. The company uses the Workday payroll system, and the paychecks were put into the database on Tuesday, when the news of their layoffs was just hitting national headlines. No further information was provided to employees, an anonymous worker...

Out of the thousands of people she worked with, why are only two giving Fiorina a reportable amount of cash? The employees at Hewlett-Packard, where Carly Fiorina was CEO for six years, don’t seem interested in seeing their old boss become commander-in-chief. Of the 302,000 employees at the company, not one has given a reportable amount to help Fiorina fund her 2016 presidential campaign, according to the campaign’s most recent FEC filings, which lists all donations over $200. HP’s corporate leadership also doesn’t seem keen on the idea of Fiorina in the White House. Among the 12-member board of directors,...

Carly Fiorina said on Sunday she had plenty of job offers after being fired as the CEO of Hewlett Packard, including posts in the George W. Bush administration, but she decided against them. "I didn’t want to go back to work as a CEO," the Republican presidential contender said on NBC's "Meet the Press," rejecting suggestions her lack of private-sector employment after leaving HP is an indictment of her leadership. "Yes, I was offered many jobs – as a CEO, in the Bush administration. I wanted a break, and then I wanted to give back."

That Carly Fiorina was a one-woman wrecking crew during her tenure as CEO of Hewlett-Packard was never in doubt. But what follows is a tale that is now being picked up and distributed as the Republican Party seeks a nominee who combines business savvy and executive know-how. Sadly, the former executive who most closely fits this particular bill also has exhibited the kind of corporate arrogance and blind certitude that came close to sinking what had been considered among the world’s best technology companies: Hewlett-Packard. At HP beginning in the mid-1990s, Fiorina was responsible for the ill-fated merger with Compaq,...

In a race to represent California in the U.S. Senate, Republican Carly Fiorina has emphasized her "real-world" business experience as chief executive officer of one of the world's largest tech companies. But Fiorina's controversial 6-year tenure as CEO of computer-maker Hewlett Packard has also been used by Democrats to attack her. The latest attack ad from the Sen. Barbara Boxer campaign picks up on a thread introduced in the primary -- accusing Fiorina of laying off tens of thousands of workers at HP, shipping jobs overseas and all the while padding her own bank account and toy box. Here's what...

Ex-Hewlett-Packard CEO Carly Fiorina will get a severance package worth about $21.4 million, but stands to reap another $21 million after she was forced out by the computer maker's board last week, a newspaper reported Saturday. The additional amount reflects the estimated value of her Hewlett stock and options as well as her pension, which were not included in her severance package, the New York Times reported. Fiorina was forced to resign Tuesday after the computer maker's board concluded she hadn't boosted Hewlett's (Research) sagging stock or its fortunes after the company's merger with Compaq Computer.

Pension funds want former CEO to pay back part of $42 million package. A group of Hewlett-Packard Co. shareholders are suing the company, alleging its board broke its own rules by awarding more than $42 million in cash, stock and other benefits to Carly Fiorina after she was dumped as CEO last year. The complaint, filed late Monday in U.S. District Court in San Jose, depicts the payments to Fiorina as a blatant violation of a board policy adopted in 2003 so the company’s severance payments would be limited to 2.99 times an executive’s combined salary and annual bonus. Based...

Pension fund investors filed a suit against Hewlett-Packard directors on Tuesday, calling "excessive" the $42 million severance package plus other perks paid last year to fired chairman and CEO Carly Fiorina. The action was filed in U.S. District Court in Northern California by Indiana Electrical Workers Pension Trust Fund and pension funds administered by the Service Employees International Union. The suit alleges that HP's board breached company policy last year by granting a payout to Fiorina that exceeded 2.99 times the sum of an executive's base salary, plus target bonuses, without seeking shareholder approval. That HP policy had been put...

With Fiorina as chairman and CEO, Hewlett-Packard's value declined significantly and the technology giant endured massive layoffs. Fiorina led a largely unsuccessful merger with Compaq in 2002, going against the wishes of company founder Walter Hewlett. Asked by the board of directors to step down in 2005, Fiorina left with $21 million in cash, plus stock and pension benefits worth another $19 million. According to HP executive compensation rules, departing executives are entitled to no more than 2.99 times their base salary; anything more requires stockholder approval. Fiorina's parachute was more than that, so the stockholders filed a class action...

Steamboat Springs — Routt County commissioners are among local government officials in Colorado who are railing against the latest plans of the state legislature to appropriate $20 million from the mineral severance tax fund to balance the 2015-16 budget. "Since I’ve been a commissioner, this is the fourth or fifth time they’ve raided the severance tax to take care of the state’s budget, and to the detriment of local governments,” Routt County Commission Chairman Doug Monger said. “If we don’t make noise about it, it will become a normal event. We have to get out there and say ‘This really...

WASHINGTON — The National Restaurant Association gave $35,000 — a year’s salary — in severance pay to a female staff member in the late 1990s after an encounter with Herman Cain, its chief executive at the time, made her uncomfortable working there, three people with direct knowledge of the payment said on Tuesday. The woman was one of two whose accusations of sexual harassment by Mr. Cain, now a Republican candidate for president, led to paid severance agreements during his 1996-99 tenure at the association. Disclosure of the scale of the severance further challenged his initial description of the matter...

Keith Olbermann scored an even sweeter exit package than previously reported. Sources connected with NBC tell us Keith is pocketing "well in excess" of $7 million. Sources tell us ... Olbermann was due for two salary hikes during the last two years of his contract, which would have netted him just over $17 million. The exit deal, we're told, gives Keith much more than $7 million, though our sources would not be more specific. And we're told ... Olbermann agreed as part of his exit deal not to do television, but our sources say he'll be benched for less than...

SEATTLE (Reuters) - Microsoft Corp has dropped an attempt to recoup some severance money from 25 recently fired workers it mistakenly overpaid. The Redmond, Washington-based company, which announced a plan to cut up to 5,000 jobs in January, acknowledged on Sunday that it had tried to get the overpaid workers to return the extra money. But late on Monday, it reversed course. "This was a mistake on our part," said a Microsoft spokesman

Microsoft wants laid off employees to return part of their severance pay. I guess over $50 billion is not enough money for Bill Gates. Microsoft recently laid off 1400 workers ,mostly in the US. They have now decided their severance package was too big. They have sent the a letter (see picture) to them asking for the money back. Perhaps some of those mosquitoes Bill Gates recently released at a tech conference have infected him with an insanity virus.

The University of California's governing Board of Regents, struggling last week to avert drastic state budget cuts and forestall tuition increases, approved a $100,202 severance package for Linda Williams, a close aide to former UC President Robert Dynes and a figure in the university's 2005 salary scandal. The severance is being paid to Williams several months after she left her job in the UC Office of the President in Oakland and took a higher-paying position on May 1 a few miles away at the UC Berkeley campus. Her payout was granted last Thursday - one day after the regents spent...

Alan Fishman, named CEO of Washington Mutual just 18 days before federal regulators seized it, will not accept a multimillion-dollar severance payment even if he is entitled to it, a spokesman representing him said Wednesday. "It is doubtful that Mr. Fishman would be entitled to severance payments under his contract because of FDIC regulations, but in any event, he would not accept severance under these circumstances," the spokesman said Wednesday in an interview. He would not comment on whether Fishman would keep a $7.5 million signing bonus or whether he is still employed at WaMu. Fishman's employment contract made him...

Excerpt - The regulator of Fannie Mae and Freddie Mac said Sunday that it won't allow the companies to make "golden parachute" severance payments to the mortgage companies' ousted chief executive officers. In a statement, the Federal Housing Finance Agency said such payments wouldn't be made to Daniel Mudd and Richard Syron, despite provisions in their contracts. Mr. Mudd served as chief executive of Fannie and Mr. Syron was chairman and CEO of Freddie until last weekend, when the regulator seized control of the companies, saying they were in danger of running out of capital. ~ snip ~

For education and discussion only. Not for commercial use. Poor market conditions in the nylon business and increased competition from foreign imports were blamed for layoffs planned in the coming weeks at an Anderson textile manufacturing plant. Honeywell Nylon, which took over the BASF nylon plant last month, asked 103 workers to leave voluntarily earlier this week, Honeywell Nylon Director of Operations Ed Donnelly said Friday. An outdated, labor-intensive production process used at the plant will be terminated and the plant will bulk up production on the remaining single-step process line to bring greater efficiency and cost effectiveness to its...