When LG Phillips DIsplay USA (parent company Philips and LG) filed for bankruptcy in Delaware 6 yrs ago,they wrote off healthcare and severance that they had promised in contract to their loyal employees.Of course in the Neitherlands after the factory closed they honored their contracts and even to Mexican workers in Mexico,but not in the USA due to our bankruptcy courts in Delaware. Basically their word means nothing.
They of course have renamed their venture and are doing business again-selling TVs. in the US.
My husband had worked for them for 32 yrs. The severance contract in July specified that he would be paid 2 wks for every year of service if he worked until Dec. 31st and helped close the office.He kept his word they filed for bankruptcy in Jan and did not follow thru with their end of the bargain.
Also one reason for staying with them was healthcare offered after he left,again they filed for bankruptcy and nothing we could do. We did file in the court but we were behind all of the others who were secured(companies including their own that had supplied materials for TVs).
Monetary Loss: $150.