Global Crossing Offers Deal to Employees
Reuters
Global Crossing Ltd. said it was willing to pay about $5.5million of the $32.2 million owed to former employees.
About 1,195 fired employees have claims pending, and bankruptcy law allows them to demand a priority claim of up to $4,650 per person for wages, vacation time, severance and sick leave, according to a Bankruptcy Court filing.
A judge last week approved a plan for Global Crossing to pay 417 employees $8.25 million, including almost $500,000 to two finance executives, to stay at the company as it reorganizes.
