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Are you sure that still applies if the company is bankrupt? Even if it does how are they supposed to comply when there is no money.
by jdsully 6y ago
Are you sure that still applies if the company is bankrupt? Even if it does how are they supposed to comply when there is no money.
- dredmorbius 6y agoI don't know, hence my "subject to some limitations" weasel. My principle point was to make known that immediate layoffs without notice or compensation are not something all employees are required to immediately and unconditionally accept. Know and assert your rights. Searching "warn notice layoffs bankruptcy" gives some additional information. https://duckduckgo.com/?q=warn+notice+layoffs+bankruptcy&ia=web https://duckduckgo.com/?q=warn+notice+layoffs+bankruptcy&ia=... A bankrupt firm virtually always has assets. The question is how these are distributed amongst creditors. Inclusive of employees.
- oceanghost 6y agoI believe it does. In the case of California, there is an exception for "unforeseeable circumstances." Bankruptcy is usually very predictable. The law doesn't mean you can't go bankrupt; you just have to give people warning. The fact is the MO of most companies is to deny anything is wrong right up until the moment everyone gets fired. One needs look no further than the Telltale games saga.