My Job.
Hi. I'm the sh!thead who didn't find a new job as soon as circuit city declared bankruptcy.
Now, I'm facing unemployment in a matter of weeks. Actually, at most, it'll be 2 months.
Here's some excerpts from the internal letter:
This week, the company filed with the Bankruptcy Court a motion that seeks Court approval for a process that formally puts the company up for sale. A sale could include as a “going concern” (meaning that the acquirer would continue to operate Circuit City as a business), pieces of the company as separate business units (such as markets, regions, or operating units) or as individual assets (such as the sale of inventory). The motion was made public today in advance of a hearing to approve the motion later today.
Oh, but that's not the concerning bit.
A number of outcomes are possible. We could reach a sale agreement and have it approved by the Court before the auction starts on the 13th. These discussions or the auction could result in an approved sale agreement before the hearing on the 16th. Or, we could reach an agreement with the DIP lenders to amend our agreement and change or delay the timing of the hearing on the 16th. To the extent that these efforts are unsuccessful, we will need to pursue a more dire path for the company.
Dire path? Oh no...
There’s no way to sugar-coat this, so out of respect for you I’m going to be completely honest: if no sale agreement is approved, then the company will be forced to liquidate beginning soon after the hearing on the 16th.
What then?
The unemployment rate is soaring currently at a daunting 7.2%. I've only ever really worked in retail, and I will be in direct competition with all 30+ of my coworkers, plus all the employees at the Goody's here that is liquidating. Rome's job market revolves pretty heavily around the Medical industry and factories. I'm not cut out for factory life and have no medical skills and no stomach to cope with wounded and ill.
So here's the break down:
I'm screwed. Or I could get unemployment! If I have a child, I'll get child support! Hm....
Maybe I'll just stick with panicking.
Now, I'm facing unemployment in a matter of weeks. Actually, at most, it'll be 2 months.
Here's some excerpts from the internal letter:
This week, the company filed with the Bankruptcy Court a motion that seeks Court approval for a process that formally puts the company up for sale. A sale could include as a “going concern” (meaning that the acquirer would continue to operate Circuit City as a business), pieces of the company as separate business units (such as markets, regions, or operating units) or as individual assets (such as the sale of inventory). The motion was made public today in advance of a hearing to approve the motion later today.
Oh, but that's not the concerning bit.
A number of outcomes are possible. We could reach a sale agreement and have it approved by the Court before the auction starts on the 13th. These discussions or the auction could result in an approved sale agreement before the hearing on the 16th. Or, we could reach an agreement with the DIP lenders to amend our agreement and change or delay the timing of the hearing on the 16th. To the extent that these efforts are unsuccessful, we will need to pursue a more dire path for the company.
Dire path? Oh no...
There’s no way to sugar-coat this, so out of respect for you I’m going to be completely honest: if no sale agreement is approved, then the company will be forced to liquidate beginning soon after the hearing on the 16th.
What then?
The unemployment rate is soaring currently at a daunting 7.2%. I've only ever really worked in retail, and I will be in direct competition with all 30+ of my coworkers, plus all the employees at the Goody's here that is liquidating. Rome's job market revolves pretty heavily around the Medical industry and factories. I'm not cut out for factory life and have no medical skills and no stomach to cope with wounded and ill.
So here's the break down:
I'm screwed. Or I could get unemployment! If I have a child, I'll get child support! Hm....
Maybe I'll just stick with panicking.