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Telltale Employees Left Stunned by Company Closure, No Severance

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131–140 of 197 posts

Re: Telltale Employees Left Stunned by Company Closure, No Severance

#131
post #4

The point of severance is to give ex-employees a reason not to sue. However there is left point in protecting from lawsuits when there will be nothing left that can be sued. However I suspect that not paying out owed PTO may be a different story...

owed PTO is probably the main reason behind the trend for unlimited vacation among startups as they owe employees nothing after they part ways (since no vacation hours were 'earned')

Re: Telltale Employees Left Stunned by Company Closure, No Severance

#132
post #45
post #33

Earlier quoted context omitted.

What if your employer went bankrupt?

What does the cause matter? Company's dead, the employee "involuntarily departed."

It matters if it was a self-insured plan i.e. the company itself paid insurance claims.

Re: Telltale Employees Left Stunned by Company Closure, No Severance

#133
post #127

Earlier quoted context omitted.

_Never_ work longer hours than you would be willing to be paid hourly for given your salary. _Never_. I've been interviewed at companies where it was evident from my questions that I would make more working half time at my current employer than the hours typically worked at the prospective employer. Really, I don't see why overtime is so rare in our industry. Not having it is more often an excuse to over utilize and…

Never is a pretty bad rule. If you want to get ahead in life and advance your career, sometimes working more is the only way to do it. Everyone should decide at the end of the day how much they want to balance work vs. life, but for many people, working hard is the right choice.

There is an abundance of employment available for software developers; it is a job seeker's market. There's no need to devalue one's labour in order to get ahead.

Besides, you're only as valuable to others as you allow yourself to be treated. An employer who is accustomed to exploiting you with ease doesn't have much impetus to improve the terms of your employment.

Re: Telltale Employees Left Stunned by Company Closure, No Severance

#134

This sort of thing makes me very glad I live in a country with legally guaranteed employee entitlements and public healthcare.

California does have some legally guaranteed entitlements if (edit) there is a mass layoff. Apparently like this case if a company just goes under with no money left that doesn't apply. What is the situation in Europe? The healthcare continues, but if a company has no money who pays the entitlements? Do employers have to fund a reserve? Or the govt pays?

Re: Telltale Employees Left Stunned by Company Closure, No Severance

#135
post #117

Earlier quoted context omitted.

Unemployment insurance in California maxes out at $450/week, pre-tax. It can help you draw down your savings more slowly, but by itself is not even enough to make rent. The numbers may have made sense before the latest bout of housing price and wage inflation, but they don't anymore.

There are still places in California where it's possible to rent for <$1800/mo.

For a family?

Re: Telltale Employees Left Stunned by Company Closure, No Severance

#136
post #82
post #73

Earlier quoted context omitted.

So who pays for this insurance? Is it usually the company, or the employee?

Employers. See https://workforcesecurity.doleta.gov/unemploy/uifactsheet.as... and https://en.wikipedia.org/wiki/Unemployment_benefits#United_S... for more information about it. Note that the caps are per state, but is sufficiently low that it doesn't replace a professional level income. Therefore if your lifestyle is based on an income of $50K+, you are strongly advised to acquire personal savings for emergencies in…

>>This can lead to weirdly misaligned incentives, like C-level executives on a failing company trying to get fired because their severance package will leave them better off than staying with the sinking ship.

If anybody is fired in the U.S. they are almost always never entitled to severance. Severance is primarily available for employees who have been laid off. Such companies would love to fire executives in the true sense of the word if they had cause to save on any costly packages.

Re: Telltale Employees Left Stunned by Company Closure, No Severance

#137

This sort of thing makes me very glad I live in a country with legally guaranteed employee entitlements and public healthcare.

California does have some legally guaranteed entitlements if (edit) there is a mass layoff. Apparently like this case if a company just goes under with no money left that doesn't apply. What is the situation in Europe? The healthcare continues, but if a company has no money who pays the entitlements? Do employers have to fund a reserve? Or the govt pays?

In Australia (where I'm from) companies are legally obliged to keep enough cash on hand to cover employee entitlements, which at minimum is pay for the notice period + accrued leave + superannuation (may be more depending on your contract and time served with the company).

Above that, employee entitlements get paid out first in the event of bankruptcy/wind-up (i.e. before any investors or creditors see a cent).

Also, any director of a company that doesn't comply (i.e. keep enough cash on hand) is likely to 1) get banned from being a director of a company, 2) prosecuted, and worst of all 3) get reamed by the tax-office for the amount owing.

Healthcare is almost entirely public here. Employer-provided private health insurance is rare.

Re: Telltale Employees Left Stunned by Company Closure, No Severance

#138
post #80

Earlier quoted context omitted.

Borderlands was a betrayal simulator i didn’t really played Guardians of the Galaxy. GoT was essentially the same as TWD. However the gameplay was essentially identical across all of them a semi interactive cut scene that is broken by QTEs which don’t have a major impact on the overall story arc they at best just shift a few characters around the events still unfold as they are. Expensive licenses and a repetitive “p…

I don’t know where you work, but I can count on one finger the places where I actually knew the companies financial situation. You can try to guess based on sales and nr of employees, but it’s hardly an exact science.

There are always alarm bells, free fruitbowls disappearing, drinks fridge replaced by vending machines and suchlike.

Re: Telltale Employees Left Stunned by Company Closure, No Severance

#139
post #58

Earlier quoted context omitted.

game industry workers don't have the same bargaining power that people in other industries have. > "Cash Up Front" ... or immediate stock ownership to offset your personal risk so a grant with no vesting schedule? please enlighten us as to what employers are actually giving out such favorable deals.

I don't mean to be callous, but the game industry is one where much of the benefit comes from the fact that one gets to work on games as opposed to B2B SAAS apps or other banal businesses. In exchange for getting to work on games, you are taking a lower salary, higher competition, and much less stable working environment. It's very similar to sports; there are many more people who want to work in sports than there ar…

much of the benefit comes from the fact that one gets to work on games as opposed to B2B SAAS apps or other banal businesses

I’ve sometimes wondered if that’s true. I mean debugging a race condition in C++ is going to be the same in a game engine as in a trading engine right? Except the latter will be well paid and secure.

Re: Telltale Employees Left Stunned by Company Closure, No Severance

#140

Earlier quoted context omitted.

Another article states that only 2 games were actually profitable. Minecraft Story Mode, and one of the Walking Dead games. All others were failed financially and did not recoup costs.

I dunno why I was surprised by this. The company must have been super mismanaged. I know that it's a lot of hard work to put together a game, especially one with an outdated engine, but I'm really surprised that the games Telltale was putting out required such a big crew.

All the TT games had a lot of voice acting and motion capture, so that'll drive costs up a lot.
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