Troy
However, companies have found loopholes that allow them to do exactly that.
There is no guarantee of protection even with unions as I know of one instance on the coast of B.C. where workers at a Union shake and shingle mill were laid off while the company claimed to be in the process of restructuring.What in fact happened was they sold the company to people in Japan I recall and the new owners refused to hire them back.To make the case of insult to injury the pension plans were null and void due to a legal glitch concerning offshore ownership of a canadian firm.
Men with 25-40 years service were left with no pension and no job.Can you imagine 40 years loyal to the same comany,of paying into something and then being without a pot to piss in? That is cold in ways I do not even wish to contemplate.But that is the way of things.Loopholes do exist and are exploited despite their moral bankruptcy.A few of these men died within a couple of years from hitting the booze,some struggled on ,some trained for new work but to a man the idea of loyalty and trust was gone and that is a great tragedy.
This message has been edited by sidelined, Fri, 2005-05-13 09:57 PM