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Company closing Notice

  • 29-06-2017 4:16pm
    #1
    mirrorwall14
    Closed Accounts Posts: 6,751 ✭✭✭


    Hi,

    If a company is going under because they won't be able to pay wages, what is the notice period for employees? Can the company just literally lock them out?


Comments

  • #2
    davo10
    Closed Accounts Posts: 6,926 ✭✭✭davo10


    mirrorwall14 wrote: »
    Hi,

    If a company is going under because they won't be able to pay wages, what is the notice period for employees? Can the company just literally lock them out?

    If they can't pay wages, what's the point in notice? You won't be paid during the notice period, you'd be working knowing you won't be paid.


  • #3
    mirrorwall14
    Closed Accounts Posts: 6,751 ✭✭✭mirrorwall14


    The employees don't know. Middle management do and would prefer to tell the employees but are not allowed


  • #4
    davo10
    Closed Accounts Posts: 6,926 ✭✭✭davo10


    mirrorwall14 wrote: »
    The employees don't know. Middle management do and would prefer to tell the employees but are not allowed

    What have middle management got to lose by telling employees? If it's going under, it's going under. You must be middle management if you know, so do the decent thing and allow the employees to start job hunting so they can pay their mortgages and support their families.


  • #5
    mirrorwall14
    Closed Accounts Posts: 6,751 ✭✭✭mirrorwall14


    davo10 wrote: »
    What have middle management got to lose by telling employees? If it's going under, it's going under. You must be middle management if you know, so do the decent thing and allow the employees to start job hunting so they can pay their mortgages and support their families.

    I've nothing to do with it, I'm a public servant. It's a mate but they've been told they aren't allowed to say anything as management and that nothing needs to be said under law. I was curious if that is truly the case.

    Edit: Sorry for clarity

    The company cannot pay wages from x date
    The company management do not plan to tell employees until x date plus two weeks.

    In otherwords the date that they plan on telling the rest of the employees would mean they had worked two weeks which they know they don't currently have the money to pay them for

    Is that even legal?


  • #6
    Shelflife
    Registered Users, Registered Users 2 Posts: 3,077 ✭✭✭Shelflife


    That sounds as if they are trading while insolvent which I believe is illegal. If they cant pay the shop floor you can be sure that middle management wont be paid either.

    It also puts the directors on very sticky ground legally and open to prosecution on a number of charges.


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  • #7
    mirrorwall14
    Closed Accounts Posts: 6,751 ✭✭✭mirrorwall14


    Shelflife wrote: »
    That sounds as if they are trading while insolvent which I believe is illegal. If they cant pay the shop floor you can be sure that middle management wont be paid either.

    It also puts the directors on very sticky ground legally and open to prosecution on a number of charges.

    It all sounds very messy. Albeit that it's a fair possibility I'm not getting the full story


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