As reported in our article earlier today, WorldVentures has just laid off more than 50% of its remaining staff.
Clause 2a. in the separation and release agreements, as provided to laid off WorldVentures employees, appears to confirm WorldVentures is in the process of being acquired by Seacret Direct.
BehindMLM first became aware of rumors WorldVentures was in negotiations with Seacret Direct just over a week ago. We didn’t report anything as we had nothing concrete to publish.
The separation and release agreements provided to WorldVentures employees blames the “global economy” for its demise.
Due to an unanticipated and dramatic major downturn in the global economy which was not reasonably foreseeable, in particular Coronavirus (COVID-19) WorldVentures Services, LLC has implemented a reduction in force, effective 11/6/2020.
Laid off WorldVentures employees are being paid their salary for 8 weeks, ending on January 1st, 2021.
Section 2a. of the agreement, pertaining to “compensation owed”, states;
If you enter into any relationship with Seacret Direct LLC (or any of its affiliates) including employment, consulting, or any other financial relationship before the end of your separation period (while your separation payments are being made), this agreement is terminated, and no more payments will be made.
It is unclear why WorldVentures doesn’t want any of its employees migrating over to Seacret Direct.
Considering the agreement also states WorldVentures ‘desires to assist (employees) in (their) transition to new employment’, it seems odd Seacret Direct wouldn’t take on any staff.
The only reason I can think of is any potential positions are being reserved for retained WorldVentures’ staff and executives.
Unfortunately we don’t know the current status of negotiations between WorldVentures and Seacret Direct. Nor if there are any other parties also in negotiations.
In addition to an acquisition, WorldVentures is also rumored to be either bankrupt or on the verge of bankruptcy. I haven’t yet been able to confirm that.
Worryingly, I believe WorldVentures affiliates are being kept in the dark. I’m not aware of any communication from WorldVentures corporate to the field.
Update 15th November 2020 – WorldVentures has confirmed its acquisition by Seacret Direct in a corporate webinar.
Update 23rd December 2020 – WorldVentures filed for Chapter 11 bankruptcy on December 22nd, 2020.