Originally Posted by
notEnuf
The profit sharing was a way to restore value to all careers when the company recovers. Almost all companies do this during bankruptcy to get concessions needed to restructure. Either profit sharing or a snap back triggered by some goal achieved.
https://www.detroitnews.com/story/bu...rs/2783459002/
At the time the concept of employees recovering with the company was not very common. It worked out well for us and what we negotiated with the claim stock and profit sharing was almost unprecedented.