Anybody knows if we get severance in case of a liquidation?
4 replies (most recent on top)
In a corporate liquidation, the employees become creditors to the company, and that includes wages they are owed. There is no severance, and there is a strong possibility that they won't get their last paycheck, vacation payout, or benefits.
@uao - That is currently true for a store liquidation, however, that may not be the case for a corporate liquidation.
If you are full time and stay during the whole process you will get severence. But part time people get nothing.
No, employees are dead last when it comes to liquidation.