Entellium Debacle Continues

The Entellium situation continues to play out as more news comes out regarding the former CRM Software giant. With the declaration of bankruptcy of former CRM Software giant, Entellium Software, it appears as if the Entellium situation is finally behind us. Intuit is also looking into a possible purchase of Entellium’s assets to help partially pay off much of the losses accrued by the venture capitalists who invested money into Entellium.

With the Intuit purchase comes an influx of money for Entellium software to help pay off its unfulfilled obligations. However, the priority of where this money is to be directed seems to be misguided. Rather than paying off wrongly pressured employees, the money is going to go to stupid investors who had full control over where they chose to invest their money.

More news is coming out regarding how former Entellium employees’ layoffs were handled. These situations were described as pressurized, unpleasant positions for employees who were surprised with the sudden dismantling of the company. With no prior notice, Entellium shut its doors, only giving employees time to pack their bags and sign severance papers. Former employees had little time to review these papers as they were pressured into signing these documents or threatened with the loss of their health insurance benefits. Many former employees succumbed to the pressure and signed the documents after barely glancing at them. This forced many to sign over rights such as severance pay and vacation payouts that they had rightfully earned.

The sale of Intuit will provide Entellium with money to partially pay off its debtors. However, the priority of who should be paid needs to be revised. Rather than paying off venture capitalists who were lazy and foolish, the money should be paid to employees. Employees had no control over what was going on and should get what they rightfully earned for the many years they served working for Entellium.

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  1. Anh says:

    It’s pretty sad to see the employees getting shafted a second time, but it’s not much of a surprise. They are small fish in an ocean of sharks (investors). If Intuit revise the priority and help the employees, then that will look great for Intuit in the public eyes. With the current state of the economy, the little guys need as much help as possible.

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