Canada AM - Nortel Abuse of Employment Insurance System

Canada AM Interview of Diane Urquhart, independent financial analyst. She said the Nortel restructuring plan is costing Canadian taxpayers, but the effect is less obvious. "To cut costs you terminate employees and also to cut costs you don't pay those terminated employees severance pay. But clearly these employees still have monthly bills to pay and they're going to go on public employment insurance plans,"

"Unlike in the AIG situation where there was American taxpayer outrage, this is a more subtle use of public funds that most people don't recognize is going on. However, we should be outraged. In this time economic stress, there are great strains on the employment insurance system of Canada."

Category:

News & Politics

Tags:

• severance pay
• bankruptcy
• securities crime
• bonuses
• Nortel

[dianeurquhart]

Henry Juroviesky of Juroviesky and Ricci LLP and independent financial analyst, Diane Urquhart, are hosting a webinar on Wednesday, March 25, 2009 at 3:00 PM EDT to update you on our plan to accelerate and maximize the recovery of the termination and severance pay owed to Nortel Canadian terminated employees.

Google Juroviesky and Ricci LLP, go to Class Actions/Litigation, go to Nortel CCAA Proceedings, Register for Webinar at Bottom of Page.

[BobFromMich]

Nortel sucks.

[odephraimchai]

Where is the contract between you and Employment insurance commsion with your signature upon it. It is require by law. Also, you are allow to canceal any contract under yhe law. How can the Reciever general take money from your earnings without consent,it requires a contract with your signature on it.

[ryanwas69]

ya now what makes me mad is i have worked 20 years as a millwright i have ever quit a job every time i need ei it hasbeen there, every time has been do to layoffs this time i am off for quiting to really good legal rasons but i cannot collect but business can send out people to collect PC has to go

[EdisonIsGod]

John Roth stold all your money. Hang that bastard.

[Kewlie68]

All you Nortel employees get what you deserve, nothing! you were all complicit, received stock options cashed-in at inflated prices and other benefits while retirement investors have been devastated.

[billiepipersteeth]

Good point very well made.

[BoneJacker01]

What did you expect do you think it was ever about anything but those rich assholes. There needs to be a something personal like prison time for those fuckers.

[ExNortelemployee]

I signed up with Juroviesky and Ricci LLP to represent me, because I need to get my severance paid as soon as possible and he's not asking me for money to pay for his work upfront.  It's just not right that Nortel is leaving loyal members of its workforce high and dry. The employees are being shafted for the work they have done, while the executives receive bonsues for driving the company into the ground.

[drydock265]

line those executives on Bay Street and stone them!!!