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Post Info TOPIC: Company Closing Down - What is my rights?
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Company Closing Down - What is my rights?
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I was mistakenly forwared an email where management said that our company will be closing down in the next few months. We haven't officially been informed of this so I don't have any further details of exactly how, when etc. I would just like to know what I must expect. If a company is closing down completely, do they have to retrench us, pay us out a severence package and follow the proper retrenchement procedure? I've been with the company for 3 years. Is it true that they don't have to do the whole proper retrenchment procedure if the company is closing down because of their financial situation? That they can just give us notice, just say that our contracts have come to an end? I'm not on a contract basis, I'm a permament employee. I'm just worried that they won't follow the correct retrenchment procedures which also mean that I won't be able to claim on my salary protection policy I've taken out a while back especially in case you get retrenched. I have been retrenched before thus why I took out the policy. But if they just give us notice and don't follow a proper retrenchment, what can I do?



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