11–20 of 61 posts
I'd advise you to leave now, especially if the founders/management have decided not to take anymore pay themselves, thats usually the sign there is only a few weeks (Not months) of cash left.
There's a lot of good advice here telling the employee how to act. I concur with most of it. Let me add something from another perspective: Speaking as a startup owner who has had money problems from time to time: a) crap happens b) your hourly people, who have no equity, deserve every single cent. Whether answering phones, stuffing boxes, or whatever, these people work hard, and you MUST pay them every penny, on the…
Goes without saying, but sure is nice to see anyway. Thank you, Travis.
[Aside: Don't compromise the quality of your otherwise excellent posts. Move your signature and company link off of your comment and onto your profile where it belongs. You are obviously a pro. Look like one here.]
The company I worked for went through this a few years ago, but pulled out of it and was doing well for a while.
Nonetheless I got a zero-day shitcan from them about a year ago (let go on Wednesday and paid through Friday, with another half month of medical/dental).
Don't be more loyal to the company than they would be to you.
There's a lot of good advice here telling the employee how to act. I concur with most of it. Let me add something from another perspective: Speaking as a startup owner who has had money problems from time to time: a) crap happens b) your hourly people, who have no equity, deserve every single cent. Whether answering phones, stuffing boxes, or whatever, these people work hard, and you MUST pay them every penny, on the…
"Startups come and go, but 50 years from now, your reputation, and your sense of self will still be with you. Make sure that you are scrupulously ethical with your people." Goes without saying, but sure is nice to see anyway. Thank you, Travis. [Aside: Don't compromise the quality of your otherwise excellent posts. Move your signature and company link off of your comment and onto your profile where it belongs. You ar…
I have, however, removed the link.
Good point. Thanks.
While you may have an emotional connection to the company, bill collectors acting on behalf those with outstanding invoices with your company will have no such connection. There's likely a backlog of unpaid invoices that will also need to be paid. Employees walk ... creditors sue. Your company will pay creditors first, and is likely to leave you guys hanging.
Been there before. Best get out as soon as possible.
Likewise here. If the company had any prospects of funding, they would be more open. Get your resume out now. There is no harm in working for a while longer, so long as it doesn't interfere with your job search. Also check with you state employment office, because you probably have wage claims which may go ahead of other creditors. (IANAL) EDIT: Your coworkers are still working because they dont know what else to do.…
Email every one of them the link to this discussion. Give them a chance to "know what else to do".
You should have started sending out your resume when they missed payroll back in May. Not only does this place have some serious financial problems, but management doesn't even have the decency to let people know ahead of time. That's pretty sleazy in my book. Even if you could rationalize giving the place a free pass on a missed payroll there's no excuse for them not even mentioning it. Don't fall for the line about…
Aside from payroll, your company is likely facing massive amounts of debt to their creditors. While you may have an emotional connection to the company, bill collectors acting on behalf those with outstanding invoices with your company will have no such connection. There's likely a backlog of unpaid invoices that will also need to be paid. Employees walk ... creditors sue. Your company will pay creditors first, and i…