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Employment

BBO's Bankruptcy and Bounced Checks

BroadBand Office Inc. (BBO) employees are hopping mad -- and with good reason. According to several reports from former BBO workers, the company has bounced some of the final paychecks it issued last week after filing for Chapter 11 bankruptcy protection and laying off most of its workforce (see BBO Files for Bankruptcy Protection).

“Not only did they not pay bonuses, commissions, vacation pay, or severance, but now they are not even paying their employees salary for the last few weeks of work,” reads one email from an ex-BBO employee. “They are screwing all of us again, and again and again.”

Broadband Office officials were not available for comment. Last week, Rachelle Chong, general counsel for BBO, told Light Reading that it would not offer severance, but that it would pay employees through last Friday as well as pay them for vacation time.

- Marguerite Reardon, Senior Editor, Light Reading
http://www.lightreading.com

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cessna 12/4/2012 | 8:20:26 PM
re: BBO's Bankruptcy and Bounced Checks Leaving a 12 person staff to clean up the mess.
Not sure if people are getting paid or they are going to get screwed like bbo'ers
byebyebbo 12/4/2012 | 8:20:28 PM
re: BBO's Bankruptcy and Bounced Checks BBO was born from Kleiner Perkins. Zephion was an off shoot of BBO. Kleiner owns the whole mess!
cessna 12/4/2012 | 8:20:34 PM
re: BBO's Bankruptcy and Bounced Checks It seems like they are doing it now. People are furious beyond belief.
Mantax 12/4/2012 | 8:20:35 PM
re: BBO's Bankruptcy and Bounced Checks Can BBO freeze peoples 401K accounts that contain there own money.

When did Zephion close up shop. I heard a rumor they were laying everyone off today, but I thought they had just gotten a new round of funding to last for another 6 to 9 months.
cessna 12/4/2012 | 8:20:38 PM
re: BBO's Bankruptcy and Bounced Checks Heard that BBO is not even letting people take money out the Investmart 401K accounts... And yes ZEPHION is toast...
cessna 12/4/2012 | 8:20:38 PM
re: BBO's Bankruptcy and Bounced Checks Heard that BBO is not even letting people take money out the Investmart 401K accounts... And yes ZEPHION is toast...
netfulcrum 12/4/2012 | 8:20:41 PM
re: BBO's Bankruptcy and Bounced Checks Did Zephion just lay off all employees at the Falls Church, VA facility? No announcement on their website yet, but hold on...
Hope everyone gets a better package than BBO gave out.
NF
gswcgrd 12/4/2012 | 8:23:12 PM
re: BBO's Bankruptcy and Bounced Checks Nope. Zephion did receive their funding and have now bought themselves 6-9 months of survival. They will now need to sharpen their management skills and get on the ball to make something happen. As far as the BBO ownership of Zephion, I have no idea, but they may be separated enough from BBO to be safe.
ranon 12/4/2012 | 8:23:45 PM
re: BBO's Bankruptcy and Bounced Checks MLJ,

What i am saying is that management and employees are equally to blame. Both knew that the bubble would burst. Still both carried on with their excesses.

Employees asked for outrageous increases and got it.

Management went on hiring sprees even when they knew that it could not go on.

So let us stop pointing fingers and get down to the ardous task of rebuilding the industry.

ranon
Mantax 12/4/2012 | 8:23:57 PM
re: BBO's Bankruptcy and Bounced Checks So is Zephion in danger of running out of money this week? I heard a rumor from a friend that they haven't gotten there funding and need it as soon as possible. Does anyone know if its true that BBO owns a majority of Zephion share? If so this could explain why they haven't gotten there funding yet?
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