Laid-Off RadioShack Employees Lose Severance Pay
Recently laid-off RadioShack employees are getting hit a second time. Former employees who were counting on severance pay are now in line with everyone RadioShack owes money to: landlords, consultants, suppliers and utilities, not to mention secured lenders. Terminated employees at RadioShack used to walk away with a lump sum based on their years of service. Two months before its bankruptcy filing last Thursday, the company changed its severance policy from a lump sum to weekly or biweekly payments until the full amount is reached.