PennySaver PROUD - Helping Our Own
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We are PennySaver PROUD – HELPING OUR OWN. We are reaching out to former PennySaver employees, including those who were part of the PennySaver family over the decades of its existence. We welcome support from former customers, vendors, and the community that has valued this once great company.
The purpose of this GOFUNDME campaign is to assist former employees who have a significant financial need. Whenever possible, aid will be provided in the form of paid bills and retail certificates.
Here is our story
On May 22nd, management of Realization Services, Inc informed employees at the Brea headquarters to stop work, that the PennySaver (owned by Open Gate Capital) was out of business after 53 years. Employees in northern California, San Diego County, the Inland Empire, Los Angeles County, and Orange County heard from PennySaver Management or by rumor. The following Tuesday, some of the employees received a termination package, including a final paycheck, but the checks were no good. PennySaver has now declared bankruptcy, so it is likely they will not ever be able to cash these checks.
700 employees lost their jobs that day. The media has covered this event thoroughly because this is not the process employees in CA expect.
Employees were left with no current paycheck for their last two weeks of work, health insurance ending soon with no COBRA safety net and no earned vacation pay. Many employees had decades of service to the PennySaver, but there was no severance pay. Also 401K accounts were frozen.
All former employees have lost a significant amount of money, but many will land on their feet. Others are devastated. And they don’t have a job.
Ask any former employee about their experience with the PennySaver and they are likely to tell you what a great family it was. The PennySaver was bankrupted, but the PennySaver family was not! We are still a family and we are PennySaver PROUD!
Because of the complexity of this process, former employee Tammy Hilliker (34 year veteran) will administrate and be compensated. Three non-PennySaver professionals will volunteer to screen applications. Criteria for being an aid recipient will be severity of need and tenure with the PennySaver. Regular updates will be provided on GOFUNDME.com.
With your support, it does not end like this!
The purpose of this GOFUNDME campaign is to assist former employees who have a significant financial need. Whenever possible, aid will be provided in the form of paid bills and retail certificates.Here is our story
On May 22nd, management of Realization Services, Inc informed employees at the Brea headquarters to stop work, that the PennySaver (owned by Open Gate Capital) was out of business after 53 years. Employees in northern California, San Diego County, the Inland Empire, Los Angeles County, and Orange County heard from PennySaver Management or by rumor. The following Tuesday, some of the employees received a termination package, including a final paycheck, but the checks were no good. PennySaver has now declared bankruptcy, so it is likely they will not ever be able to cash these checks.
700 employees lost their jobs that day. The media has covered this event thoroughly because this is not the process employees in CA expect.
Employees were left with no current paycheck for their last two weeks of work, health insurance ending soon with no COBRA safety net and no earned vacation pay. Many employees had decades of service to the PennySaver, but there was no severance pay. Also 401K accounts were frozen.
All former employees have lost a significant amount of money, but many will land on their feet. Others are devastated. And they don’t have a job.
Ask any former employee about their experience with the PennySaver and they are likely to tell you what a great family it was. The PennySaver was bankrupted, but the PennySaver family was not! We are still a family and we are PennySaver PROUD!
Because of the complexity of this process, former employee Tammy Hilliker (34 year veteran) will administrate and be compensated. Three non-PennySaver professionals will volunteer to screen applications. Criteria for being an aid recipient will be severity of need and tenure with the PennySaver. Regular updates will be provided on GOFUNDME.com.
With your support, it does not end like this!
Organizer
Tammy Hilliker
Organizer
San Bernardino, CA