A change in severance policy by RadioShack means the bankrupt electronics retailer will not make lump-sum payments to laid-off workers. The Dallas Morning News reports RadioShack changed its severance policy two months ago, to allow weekly or biweekly payments until the full amount is reached. The newspaper reported Wednesday that terminated employees used to get a lump sum based on years of service. Ex-workers are now in line with others owed money by RadioShack. The Fort Worth-based company filed for Chapter 11 protection on February 5. RadioShack plans to sell 1,500 to 2,400 stores. RadioShack declined to comment on the updated severance policy.
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