Working for a company feeling the pinch of the recession?
Find Strength in Unity
The current economic crisis has had a damaging financial impact on companies and their employees nationwide. Roughly 30 companies representing over 70,000 employees represented by CWA are currently in financial distress – defined as either being in or potentially near bankruptcy. That number is unstable: it will shrink or expand depending on the length and severity of the current recession. The effects, however, are clear – employees out of work, incomes reduced, communities threatened.
We have created this web site to give tools to CWA local union officers, members, and potential members. It is imperative that we become more proactive and better prepared for cases of financial disruption.
The earlier we become aware and involved, the greater our chances for achieving a more desirable outcome and mitigating the effects of corporate financial problems on employees.
Below, you will find a set of materials that will hopefully be both informative and useful in working through the consequences of financial distress.
- "Distressed Employers Survival Guide"
A slide show that we are using to train CWA staff.
- "Warning Signs"
Think your employer might be in trouble? Check for these signs.
- "Bankruptcy Preparation"
Bankruptcy can be risky for employees. Here's how to make sure the needs of your members' are considered during the bankruptcy process.
- Bankruptcy Basics from the U.S. Courts This primer gives a useful description of the bankruptcy process and the mechanics of various chapters of the Bankruptcy Code.
Companies threatened with extinction pose unique challenges to their workers, both represented and unrepresented by a union. We hope this site can give workers in distressed companies the tools to ensure that a final settlement is equitable to all stakeholders.