topic Re: QVC Extends Warehouse Employees Benefits in Q Talk

QVC Extends Warehouse Employees Benefits

Johnnyeager — Tue, 28 Dec 2021 22:21:46 GMT

ROCKY MOUNT, N.C. (WNCN) – Employees of the QVC distribution center, destroyed by fire which killed an employee, will be paid through Feb. 1, the company said.

The company extended its shutdown pay through the end of January after previously offering $500 in emergency allowance to every Rocky Mount employee. About 2,000 employees were left without a job.

After Feb. 1, “applicable separation benefits will begin for impacted team members,” QVC said. All those who lose their jobs will be eligible to receive at least four weeks of separation pay or a lump sum equivalent.

Employees enrolled in a benefits plan will have coverage through February and will then be eligible for COBRA coverage, a statement from the company said.

Re: QVC Extends Warehouse Employees Benefits

mspatmac — Tue, 28 Dec 2021 22:26:29 GMT

I also read other large companies in the area are hiring displaced QVC employees as a priority.

Re: QVC Extends Warehouse Employees Benefits

ALRATIBA — Tue, 28 Dec 2021 22:59:46 GMT

I would have assumed that QVC had "business interruption insurance" that would cover employee wages.

Re: QVC Extends Warehouse Employees Benefits

millieshops — Tue, 28 Dec 2021 22:58:58 GMT

@mspatmac @Johnnyeager All as good as the news can get considering the horridness of any massive disaster at this time of year.

Hoping all the workers who want to continue working find jobs to their liking and skills. I know very little about that area. Maybe 10 years back was the last time we pulled off I95 in the Rocky Mount area. I suspect it has built up in the meantime. I know around here (West Palm area), it's reported there are more open jobs than people available to fill them.

Re: QVC Extends Warehouse Employees Benefits

ValuSkr — Tue, 28 Dec 2021 23:08:21 GMT

@ALRATIBA wrote:
I would have assumed that QVC had "business interruption insurance" that would cover employee wages.

Maybe that's what's covering the 1+ month of wages and benefits through 1/31.

After 1/31, no wages etc. but employees can continue medical & dental thanks to COBRA. I wonder if QVC will continue to subsidize the premium for the former employees; if not, the employees could end up paying more.

Re: QVC Extends Warehouse Employees Benefits

Mindy D — Tue, 28 Dec 2021 23:20:46 GMT

I know its very expensive to do, but I would really love to see QVC extend one extra month's pay and benefits to everyone that lost their jobs so they have a chance to pay their bills while they make arrangements to get other jobs, file and receive unemployment and put food on their tables.

Re: QVC Extends Warehouse Employees Benefits

Love my grandkids — Tue, 28 Dec 2021 23:46:22 GMT

@Johnnyeager IMO that's a drop in the bucket for Q, even if they have business interruption insurance. I'm another wonders what will happen to their insurance coverge.

Re: QVC Extends Warehouse Employees Benefits

fthunt — Tue, 28 Dec 2021 23:47:29 GMT

@Mindy D Never happy with a great deal............want more - more - more.

Q employees will do just fine....one fire not the end of the world.

Re: QVC Extends Warehouse Employees Benefits

Kachina624 — Tue, 28 Dec 2021 23:51:13 GMT

Cobra insurance is very expensive. Most will not be able to afford it. It's out of the reach of Blue Collar Families.

Re: QVC Extends Warehouse Employees Benefits

ValuSkr — Tue, 28 Dec 2021 23:54:25 GMT

I thought the $500 allowance to employees was generous. After all, employees didn't lose anything in the fire, except possibly the contents of their lockers - cell phones perhaps. And, presumably, their cars in the parking lot weren't damaged.

Re: QVC Extends Warehouse Employees Benefits

proudlyfromNJ — Tue, 28 Dec 2021 23:55:31 GMT

@Kachina624 wrote:
Cobra insurance is very expensive. Most will not be able to afford it. It's out of the reach of Blue Collar Families.

@Kachina624 I remember when I had to get Cobra. I couldn't believe how expensive it was. Hard to afford it for me at the time.

Re: QVC Extends Warehouse Employees Benefits

Desertdi — Tue, 28 Dec 2021 23:57:15 GMT

Surely the Q has insurance to cover this (fire, loss of inventory, etc.)

Re: QVC Extends Warehouse Employees Benefits

Kachina624 — Wed, 29 Dec 2021 00:05:01 GMT

@Desertdi Maybe that sort of info will be included in the Annual Report.

Re: QVC Extends Warehouse Employees Benefits

Desertdi — Wed, 29 Dec 2021 00:07:49 GMT

@Kachina624 wrote:
@Desertdi Maybe that sort of info will be included in the Annual Report.

@Kachina624 Wonder if they'll say how much LOSS they will be taking on their taxes (!!)

Re: QVC Extends Warehouse Employees Benefits

Kachina624 — Wed, 29 Dec 2021 00:10:17 GMT

@Desertdi At least they'll have a REAL EXCUSE this year instead of Mike George's fictional ones. Don't know about taxes.

Re: QVC Extends Warehouse Employees Benefits

ValuSkr — Wed, 29 Dec 2021 00:10:17 GMT

@proudlyfromNJ wrote:
@Kachina624 wrote:
Cobra insurance is very expensive. Most will not be able to afford it. It's out of the reach of Blue Collar Families.
@Kachina624 I remember when I had to get Cobra. I couldn't believe how expensive it was. Hard to afford it for me at the time.

Usually under COBRA, former employees continue with the same provider and plan they had before but the reason it's more expensive is that the employer subsidy has been removed. For example, the employer may be paying $400/month for an employee's coverage, subsidizing it to the tune of $240/month (60%), and deducting $160/month (40%) from the employee's paycheck. Under COBRA, the former employee pays the whole premium, $400 in this case, so it's a big increase. ...And so I wondered if QVC might continue the subsidy for these people, though it's under no obligation to do so.

Usually, employer-provided coverage is quite price-competitive, especially group plans covering a lot of people (which would be the case here). However, if it's too much $$$ for some people, I think they can shop independently under the ACA.

Re: QVC Extends Warehouse Employees Benefits

Carmie — Wed, 29 Dec 2021 00:18:34 GMT

COBRA is exactly the health insurance the employee had prior to their leaving, for employees it is allowed for 18 months.

The price is exactly what it cost the company for the coverage, plus they may add a 2% admin fee.

Re: QVC Extends Warehouse Employees Benefits

mspatmac — Wed, 29 Dec 2021 01:53:24 GMT

I'm no expert on Cobra or the other options available to the employees. Just briefly looking over the information available I hope the employees are being given all the relevant information to make an informed decision on their options besides Cobra.

Re: QVC Extends Warehouse Employees Benefits

Johnnyeager — Wed, 29 Dec 2021 12:21:32 GMT

Career transition services will be provided to impacted employees, as well. They include potential internal roles within the company, in addition to partnerships with local organizations for additional job opportunities, financial education, interview training, resume writing help, and job search training, QVC said.

Finally, QVC said it will donate $100,000 to the Edgecombe-Rocky Mount Employees Assistance Fund, which was created by the United Way Tar River, Carolinas Gateway Partnership, and the Rocky Mount Chamber of Commerce. It said it will also donate to “many of the first responder organizations that helped fight the fire.”

Also from Qurate: We will leverage our Team Member Relief Fund to support impacted team members and will ensure that $1 million is in this fund. This fund provides financial grants to team members affected by disasters.

Re: QVC Extends Warehouse Employees Benefits

ShopperL — Wed, 29 Dec 2021 17:32:47 GMT

Most large companies are self-insured. QVC may not have outside insurance for this. We'll never know.