joelcannon
Junior Member
My employer has been unable to pay my last month's salary and told me yesterday that he will not be able to pay me for this month either. He explained that if they do not get additional funding by the end of this month, they will have to lay me off. They have not been paying other creditors so I am researching how maximize my odds of being compensated.
According to California labor law, I am entitled to payment (and I will contact the local DLSE tomorrow) - but what can I do if they don't consider actually paying me a priority?
They have limited assets, a modest cash flow and lots of debt. They "claim" to not expect to declare bankruptcy and offered to convert my unpaid salary into restricted stock (which is rapidly decreasing in value).
I can accept the loss of my job - but I want to be paid.
Advice?
Joel from California
According to California labor law, I am entitled to payment (and I will contact the local DLSE tomorrow) - but what can I do if they don't consider actually paying me a priority?
They have limited assets, a modest cash flow and lots of debt. They "claim" to not expect to declare bankruptcy and offered to convert my unpaid salary into restricted stock (which is rapidly decreasing in value).
I can accept the loss of my job - but I want to be paid.
Advice?
Joel from California