REPORT: Laid-Off MF Global Employee Found Out About Job Cuts in the News
6:15 pm, November 11th | by Amy Tennery
That’s what Julia La Roche over at Business Insider learned when she tracked down one of MF Global’s numerous recently departed employees as she was leaving the now-shuttered offices.
The anonymous woman first pointed out the obvious (the layoffs were “poorly handled”) but then delivered the gut-punch: She found out about the layoffs from an item on MarketWatch. Ouch.
Of course, in the weeks leading up to this, there was little reason to wonder what might happen to MF Global and its staff — and without Jon Corzine at the helm the final nail was seemingly hammered in.
Still, MF Global handled this latest step incredibly badly, by any standard. On top of the aforementioned nonexistent severance packages, health coverage is expected to cut off at the end of the month and, according to FINS, salaries are getting cut off on Tuesday. The MF Global bankruptcy is ugly anyway you slice it.