Tribune Employees Lose What Little Stake They Had Left In Company
No big shocker here: Sam Zell’s bankruptcy of the Tribune Company is going to end up costing its employees more than just their jobs or perks, it’s also going to retroactively remove their stock ownership in the company.
To be fair, employees will still receive their first share allocations of ESOP, a program that gives employees options in their company. But as The Los Angeles Times noted, “those allocations won’t be worth the paper they’re printed on because of the bankruptcy.”
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