BoA plays role of savior in Chicago protest bailout — Business Management Daily: Free Reports on Human Resources, Employment Law, Office Management, Office Communication, Office Technology and Small Business Tax Business Management Daily
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BoA plays role of savior in Chicago protest bailout

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in Firing,Human Resources

When workers at Republic Windows & Doors in Chicago were given three days’ notice in December that the plant was closing, they staged a sit-in at the shuttered factory to demand severance pay and benefits.

Republic told employees that Bank of America had canceled its financing, and that’s why the company was going out of business.

Following pressure from Illinois officials, Bank of America agreed to forward money from its share of federal Troubled Asset Relief Program bailout funds to pay the workers’ benefits.

They received eight weeks’ salary, accrued vacation pay and two months’ paid health care, amounting to roughly $7,000 apiece.

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