Add On: It ain't just the employees who got stung. See below ...
The Worker Adjustment and Retraining Notification Act of 1988 (WARN Act) requires certain employers to provide sixty-day advance notification of mass layoffs.
At this time and to the best of our knowledge, only those persons due to be laid off from Digital Domain Media Group in Florida would be due any relief via the WARN Act. We will keep you up-to-date as matters develop.
Add On: In the meantime, state and local governments in the Sunshine State aren't too happy.
TALLAHASSEE — Promised their investment would help lure 500 high-paying jobs to Florida, lawmakers in 2009 sidestepped existing procedures to funnel $20 million to a well-known movie production company that animated the scenes in Titanic and the Transformers movies.
But this story's ending isn't one for the movies.
The company, Digital Domain Media Group Inc., closed its Florida operations last week and on Tuesday filed for Chapter 11 bankruptcy, laying off 300-or-so Florida employees and likely leaving taxpayers without a return on a $20 million state investment. Local governments stand to lose around an additional $110 million. ...