Take a job for a company that might go bankrupt? - Page 2

taskalem · #21 23.08.2011, 14:45

	Quote:	Phil_MCR
	are there private arrangements that top it up? i recall being told that my current job is insured at 100% of salary. if i were to take this job, i would want to insure it to the hilt given the likelihood of it tanking.

I've never seen or heard anything like that. May be it's a different agreement between the employer and an insurance company for the remaining 30%???

Phil_MCR · #22 23.08.2011, 14:49

	Quote:	taskalem
	I've never seen or heard anything like that. May be it's a different agreement between the employer and an insurance company for the remaining 30%???

that's what i figured it would be. i asked HR for details.

fatmanfilms · #23 23.08.2011, 16:39

	Quote:	Phil_MCR
	another angle: if i get paid for 3 months at a super-high salary and the company goes tits-up, could I then RAV it at 70% of this super-salary? now that could be an appealing option i'm tempted to forget the job and just short the stock. maybe it will be bust by the end of the year.

You will be entitled to 3 months + notice period capped @ 126K, other months based on what earnt to date.

Salaries + Notice Social costs & pension payments will allways be paid, by insurance if no cash in company.

TitanTurbo10 · #24 23.08.2011, 16:59

I'm doing the start-up ride at the moment, and while it's not a company going bankrupt you never know what the next quarter might bring, or how high the CHF might go. It was a risk I was willing to take. It's professionally interesting, good career progression and experience, and a chance to move to Switzerland!