Oh I thought the affected employees were in High Point NC which did accept Medicaid expansion.
The story has a quote from one of their customers who told his company to start backing away from buying from them, because he’d heard they’d stopped paying their bills.
Any time a business stops paying their bills, it’s a good bet they’re not long for this world. Someone in management there knew for quite some time that they were in trouble, but kept quiet about it. We can only speculate as to their motivations.
Just because I was curious I checked out their web page which is still up and running. You can even still apply for jobs online.
That’s the 21st century equivalent of the sign on the front of a dead restaurant. Nobody is paying someone to shut it down or paint it over, so there it sits.
One day the web hosting contract runs out or the https certificate expires or the bandwidth bill goes unpaid long enough or whatever, and then the website unceremoniously disappears. But that day is not yet today.
That person was probably included in the layoff.
A company is only required to offer COBRA so long as they continue to participate in their group insurance plan. If they cancel their insurance, they’re under no legal obligation to provide coverage.
COBRA is a U.S. law, which allows someone who leaves an employer (either voluntarily or involuntarily) to continue to receive the health insurance benefits they had as an employee, if the former employee pays 100% of the premium cost of the coverage. But, as has been noted by several, if the company ceased operations entirely, and was no longer offering health insurance to anyone, it appears that COBRA would not apply.
The WARN Act is another U.S. law, which mandates that large employers who are planning a mass layoff or closing to provide a 60-day notice of such plans. The WARN Act was in the news in recent weeks, when there were questions over whether the mass layoffs at Twitter were in violation of this law.
And, in addition, losing your previous health coverage, because your employer suddenly went toes-up and cancelled it (along with laying you off), opens up a “special enrollment period” for you, which I believe runs for 60 days after the date that you lost your job.
Any bets on criminal charges emerging against the upper management in the next week or so?
Thanks. I guess I had heard of COBRA, but hadn’t bothered to investigate.
They made good furniture. 's too bad.
Real Estate assets on for sale.
Any word on insurance or any kind of severance… or where the money went?
Nothing recent:
From January 10th: