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Companies coming to an end

  • 21-06-2017 6:31pm
    #1
    mirrorwall14
    Closed Accounts Posts: 6,751 ✭✭✭mirrorwall14


    If a company is coming to an end, as in unlikely to be able to pay the wages in the next month what are employees supposed to do in relation to notice? Employees have three month notice periods but what are you supposed to do if you know they can't pay you? Do you hand in notice? Do you have to wait for the company to officially come to an end?

    We could really do with avoiding a month without a pay cheque. There are bills to be paid


Comments

  • #2
    Jeremias Aggressive Oncology
    Posts: 0 ✭ Jeremias Aggressive Oncology


    mirrorwall14 wrote: »
    If a company is coming to an end, as in unlikely to be able to pay the wages in the next month what are employees supposed to do in relation to notice? Employees have three month notice periods but what are you supposed to do if you know they can't pay you? Do you hand in notice? Do you have to wait for the company to officially come to an end?

    We could really do with avoiding a month without a pay cheque. There are bills to be paid

    Leave. There's no way you should work for free, you have to look after yourself.


  • #3
    CIARAN_BOYLE
    Registered Users, Registered Users 2 Posts: 14,599 ✭✭✭✭CIARAN_BOYLE


    mirrorwall14 wrote: »
    If a company is coming to an end, as in unlikely to be able to pay the wages in the next month what are employees supposed to do in relation to notice? Employees have three month notice periods but what are you supposed to do if you know they can't pay you? Do you hand in notice? Do you have to wait for the company to officially come to an end?

    We could really do with avoiding a month without a pay cheque. There are bills to be paid

    Begin job hunting. If you have been with the company for more than 2 years consult legal advice (union may be sufficient) to ensure that you get redundancy (even if only mandatory redundancy from the state).

    You don't want to leave a job and later find out if you had stayed a week longer you would have been entitled to 20 weeks pay tax free as redundancy as happened to a guy I know (he was there around 10 years but redundancy starts after two years),


  • #4
    mirrorwall14
    Closed Accounts Posts: 6,751 ✭✭✭mirrorwall14


    Crosby Tiny Hive wrote: »
    Leave. There's no way you should work for free, you have to look after yourself.

    Yes but what happens if some lunatic investor comes in last minute or they sell the company on or something like that? I assume they could then enforce the three month notice period?


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