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Are Technicolor Screwing @IZONMedia?

Adrian J Cotterill, Editor-in-Chief

This looks like a Technicolor doing but here we see IZON Media parent company boot IZON out of their severance plan before starting massive layoffs.

A leaked email from a seemingly more and more (and rightly so it seems) disgruntled workforce shows some of the changes that have come into effect weeks before redundancies started…

From: Tipping Ryan
Date: January 23, 2015 at 12:09:22 PM PST
Subject: Change to Seveance Policy

Team,

As some of you may have heard already, the Technicolor Policy committee has decided to remove IZON as a participating employer from the Technicolor Severance Policy. We are not the only entity exclude from this plan nor was this the only change made at this time.

This change means that when determining severance for any restructuring going forward IZON will not be governed nor will severance be determined by the Technicolor Severance Policy. It is our intent to construct and complete a new policy or practice guidelines, specifically for IZON, by the end of next week.

I know you all must have additional questions, but as of today we do not have all the definitive answers. We should have a more formalized policy and announcement next week, but thought it was important to give you this information today.

As always the Executive Team, Tom and myself are open to any questions you might have but just be prepared that we will not have all the answers as of today.

Thanks
Ryan

And yes, Ryan cannot spell ‘Seveance’


This entry was posted on Monday, February 9th, 2015 at 09:47 @449 and is filed under Scuttlebut. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

4 Responses to “Are Technicolor Screwing @IZONMedia?”

  1. Expert One Says:
    February 9th, 2015 at 15:23 @682

    Hmmm. I wonder what the DailyDOOH severance plan is? And the host of of other DOOH companies out there. Do they even have one?

  2. Editor Says:
    February 10th, 2015 at 12:37 @567

    Heh, DailyDOOH isn’t a DOOH company!

  3. Layman One Says:
    February 10th, 2015 at 13:02 @584

    Always great to have the topic changed by an expert. The title and content of the article raised a legitimate point: Did Technicolor remove the severance provisions for IZON employees immediately prior to sacking multiple people? Whether DailyDOOH (effectively a sole proprietorship) or any other company has a severance plan is irrelevant and unimportant when asking the question at hand. Like a political spin master, you goal is to never deal with uncomfortable facts, but instead to demonize the purveyors of same. Deal with the facts Expert. IZON will be a distant memory soon enough and Technicolor is taking steps to limit its significant losses. Not pleasant, but life goes on.

  4. Anonymous Says:
    March 12th, 2015 at 16:48 @741

    From the spouse of an employee:

    -Yes. Technicolor did this less than three weeks prior to sacking the majority of IZON.

    -They dangled a carrot in front of the sales force – it was said the “doors would close next Friday” unless a certain goal was met.

    -That goal was met. They re-instated a separate, tiny severance policy – literally one fifth of what it was and not the Technicolor Severance Policy.

    -The majority of the company was let go less than two weeks after that goal (to “prevent doors from closing that Friday”) was met.

    So yes, Technicolor did boot IZON out of their severance plan RIGHT before starting massive layoffs – and dangled a carrot to get what they wanted in the interim.

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