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Technology Stocks : Broadband Wireless Access [WCII, NXLK, WCOM, satellite..]
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To: transmission who wrote (1787)5/23/2001 12:54:38 PM
From: transmission  Read Replies (1) of 1860
 
Wednesday, May 23, 2001



Teligent Offers Retention Severance Program

9:47:38 AM 5/23/2001 Bankrupt WLL provider Teligent got the nod implement an employee retention severance program, which it says it is important to its reorganization process. According to Anup Sathy, an attorney with Kirkland & Ellis representing Teligent in its Chapter 11 case, the U.S. Bankruptcy Court in Manhattan approved the plan, which will allow Teligent to reward employees for staying on during reorganization. Teligent says it must protect a number of its high-performing employees in order to operate its business and implement its turnaround process. In addition, the carrier says the programs are necessary to instill "strong morale and loyalty." The two-part program, made up of a stay bonus and a severance package, will cost about $9M for one year. Reported by Dow Jones Newswires.
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