Serverance pay

[marciajuniper]

What is the name of your state? Connecticut



My employer is currently in chapter 11 bankruptcy. We have heard that another company may be interested in buying us. My current employer has always paid severance pay upon termination (and this policy is stated in our employee handbook) If the other company buys us, and then terminates some of us, are they obligated to pay us the severance pay that we would have gotten from our old employer?

 

[Ramoth]

There is no law requiring payment of Severance, and if your current employer is in Chapter 11, he could very well change the policy and not pay Severance. If the company is purchased, whether or not to pay Severance is one of the issues usually discussed.