Firm going under too late to save
I work at FinTech in a major market. The firm has had serious issues since I joined a year ago. The technology we implement is outdated 90s-era tech that we claim is cutting-edge. The founder has an idiosyncratic nature and fires those who question his leadership. I’m flabbergasted the firm is still in business.
2022 bonuses have not been paid. We keep getting told that any day we will be paid. I find this hard to be factual. What recourse do I have against the firm? I have a statement that says XXX amount will be paid by XX date. I have a new opportunity I would like to accept.
There is a slim chance the firm will be in business by March. In the event of bankruptcy how does this affect my bonus.
Ask a local employment lawyer
The 2022 bonus thing is complex and you should consult an employment lawyer... on one hand your contract likely says bonuses are discretionary; on the other hand they have promised you $X. Take this to an employment lawyer. Either way this is likely not going to be resolved quickly or cheaply
The conundrum management is in is they have stated numerous times and set dates for which said bonus will be paid. Even in email but they lock said email from being printed or forwarded. They have mismanaged finances for years that they are having to seek alternative financing sources to pay said bonuses.
Would be an easier answer if it were base salary, but payment obligations around discretionary bonuses are tricky. Only an employment lawyer can help you, not an internet forum. Bring your contract and work phone (also just take pics of those emails on another phone as proof)
Quia itaque ipsa aliquid dolor dicta. Quae illo saepe quaerat consequatur facere molestiae.
Fugiat hic in ullam commodi dolores similique repellendus. Autem illum amet eos. Veritatis a eaque quasi laudantium exercitationem. Suscipit officia est cum exercitationem vero. Placeat delectus quis omnis molestias qui dolores deleniti. Esse ex sapiente et occaecati et. Inventore aut rerum hic qui voluptatibus.
Animi saepe delectus quo itaque. A occaecati molestiae aut error vero odit eum. Doloremque iste et quod voluptatum saepe aut rerum.
Consequatur quas consequatur fugiat ut a. Deleniti quos quis aperiam. Quod atque ipsum vitae porro velit consequatur alias veritatis. Inventore aspernatur eligendi perspiciatis aut quaerat laboriosam.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...