4 ms·
Is there a resource we can all use to find out if our employer is in a similar situation?
by mabbo 4y ago
Is there a resource we can all use to find out if our employer is in a similar situation?
- bombcar 4y agoIf you look at your bank you may be able to see the originating bank for your last direct deposit - or if you get an actual paystub it may list the bank.
- Scoundreller 4y agoCouldn’t one check and see which bank your ACH transfer was sent from? I guess it depends on your bank whether this is readily visible, but if not, should be available through a simple phone call to a rep that’s allowed to see more than end-users are exposed to.
- HarryHirsch 4y agoOff to the Department of Labour, they won't look kindly on late paychecks.
- wahnfrieden 4y agoFor those unaware, dept of labor takes late paychecks seriously and will help you as a worker. Late paychecks and other forms of wage theft make up the single largest category of theft. Too bad more people are riled up over small time crimes like shoplifting leaving many in the dark about what they can do about their employers stealing from them.
- throwayyy479087 4y agoBoth categories of crime are serious. I don't know why that's not an option.
- HarryHirsch 4y agoFun fact: the catholic church considers both murder and late wages "sins that cry to heaven". If someone can't make the rent because someone else messed up it can have enormous ripple effects.
- Asparagirl 4y agoYes, and emphasized in Jewish law, too. - Leviticus 19:13 - "You shall not leave [with you] the payment of a worker overnight until the morning..." - Deuteronomy 24:15 - "On his day you should give his wages, the sun should not set on it, because he is a poor man and his life depends on it...” And that's true whether you're a super-religious Chassid type or a super-socialist Workman's Circle Bundist type: https://www.chabad.org/library/article_cdo/aid/1218800/jewish/The-Obligation-to-Pay-Workers-on-Time.htm https://www.chabad.org/library/article_cdo/aid/1218800/jewis... https://www.laborpress.org/workmen-s-circle-backs-fight-for-15/ https://www.laborpress.org/workmen-s-circle-backs-fight-for-...
- cscurmudgeon 4y agoSimple: other forms of theft lead to violence immediately
- jkaplowitz 4y agoVery true, but this seems like a surprise logistical payment obstacle for most employers and not anything deserving the label of theft. I suspect most departments of labor would see it that way as well, not penalizing employers who were otherwise able and willing to make payroll even if they might indeed help the affected workers.
- hackernewds 4y agoWho will be liable? The employer? Rippling?
- JumpCrisscross 4y ago> Who will be liable? The employer? Rippling? To the employee, the employer. To the employer, Rippling. It's wild that, as a payment processor, they didn't have redundant rails.
- piperswe 4y agoIt's hard to make 100% timeliness guarantees when the courier that's carrying money from one place to another dies on its way. How would they have a redundant courier?
- JumpCrisscross 4y ago> would they have a redundant courier? Two or more banks. Process through both on a regular basis. Switch if something goes wrong.
- s1artibartfast 4y agoThat seems like a reasonable precaution, but it doesn't seem clear that would have helped much in this case. SV bank had the funds this morning and says the paychecks are going out, FDIC comes in at noon Rippling heard that checks haven't gone out in the afternoon, and now JPMorgan has the info and is overnight processing.
- deleted 4y ago[deleted]
- travisjungroth 4y agoThis wouldn’t work in reality, but the only thing I can think of that would work in theory is to send the money close but not all the way at 3x delivery time. Like, to their bank but they don’t give the money to the customer until payday. If it fails, you have time to resend. You can’t just deliver early because that becomes the expectation (ie we get paid on Tuesday). Again, not suggesting this is reality.
- s1artibartfast 4y agoSeems unnecessary and malicious. Im not sure why anyone would want to report their employer for a minor delay when a bank is folding. Hopefully the DOL would ignore that. It is basically the same as reporting your employer because for a late check because the mailman got shot on your doorstep. I feel like it also does a disservice to people who have real late paycheck abuses.
- HarryHirsch 4y agoThe warning signs were all there since January. There needs to be some incentive for the employer not to use an unsound bank because if there aren't you end up in a situation like this, where the government needs to step in again and bail out depositors because the alternative would be worse.
- berkle4455 4y ago[flagged]
- HarryHirsch 4y agoCan you please explain why you normalize deviance and shoddiness? We have an issue here - business runs on trust, and crooks and sloppiness reduce the will to engage in commerce.
- colinmorelli 4y agoI think people are reacting to your suggestion that employees should report their employers for a circumstance that was entirely, 100% out of the hands of the employer. To be clear, this isn’t about employers using SVB. This is because Rippling, a payroll vendor, uses SVB to transact payroll on behalf of customers. This was entirely out of the control of the employer, most of which are scrambling along with Rippling to make employees whole ASAP.
- HarryHirsch 4y agoEmployees have no choice and no insight into what contractor their employer outsources payroll and taxes to. Unless the employer is liable for trouble that their contractor caused there will be all sorts of perverse incentives - it has happened before that the cheap payroll contractor did not pay taxes although they said they would. The agency of choice and the liability must be with the employer, else all sorts of undesirable things will happen.
- colinmorelli 4y agoEmployees also have no choice in which courier their employer chooses to send mail, but it would be a bit egregious to report them because a FedEx truck crashed and their letter was delayed for a day or two.
- ShakataGaNai 4y agoIf it was a single company, then it might help. But this is likely to affect hundred if not thousands of companies. Millions of potential complaints. That will be a cluster, if everyone does complain. DOL may not like it, but they will likely take into account the fact that these were caused by a bank failure to a scale we've not seen in a decade. At the end of the day the culprit is a bank that's now toast, or the FDIC... who's immune. And if this goes on for any length of time, you could sue your employer... but lack of payroll would only happen if the company no longer has any money - effectively making them bankrupt. Again you could name SVB in the lawsuit, or the FDIC... but good luck getting blood from the stone.
- alasdair_ 4y ago>And if this goes on for any length of time, you could sue your employer... but lack of payroll would only happen if the company no longer has any money - effectively making them bankrupt. Again you could name SVB in the lawsuit, or the FDIC... but good luck getting blood from the stone. You could also sue the CEO directly. Failure to pay employee wages is one of the few things that can (somewhat) easily pierce the corporate veil.
- toufka 4y agoWhich is why an enormous number of people will be fired, furloughed or reduced to minimum wage on Monday if this isn’t resolved.
- ShakataGaNai 4y agoWell it's all moot, the fed stepped in and we're all safe.
- wlonkly 4y agoNot to be flippant, but ask your manager or your HR people. The best people to know who does your company's payroll are the people at your company.