Your employer's bankruptcy can come as a complete shock, but there are warning signs you can prepare. What can you do to protect yourself, and what are your rights? This blog offers tips and advice for employees facing this situation.
Recognize the signs of financial problems
Recognizing potential financial problems with your employer is the first step in your preparation. Look for signs such as:
- Delayed salary payments: This could be a red flag, especially if it happens more often.
- Postponement of major projects or investments: This may mean that there are few financial resources available.
- Rumors of financial problems: pay attention to what is said during meetings or in informal conversations.
If in doubt, contact the works council or union. They can provide insight into the situation within the company.
Protect your rights and payments
If bankruptcy is declared, you are protected as an employee by the Work and Security Act (WWZ). Here are some tips to protect your rights:
- Keep all documents: think of your employment contract, pay slips and correspondence about overdue payments.
- Check your vacation days and other rights: In the event of bankruptcy, accrued vacation days and vacation pay can be paid out by the UWV.
- Ask the UWV for help: The UWV often pays outstanding wages, holiday pay, and other benefits if your employer is no longer able to do so. Note: the UWV does not pay transition compensation.
You can read more about your rights in the event of bankruptcy on the website of the national government.
Seek legal support
It is important to know where to go for help:
- Trade union De Unie: we offer legal support for bankruptcies and guide you step by step through the process.
- UWV: They ensure the payment of outstanding wages.
- Legal assistance in case of dismissal: If your employer wants to dismiss you before bankruptcy, make sure this is done through the correct legal process. A termination agreement can be more advantageous than a unilateral dismissal.
What can you do yourself?
- Proactively contact the curator: This person is responsible for settling the bankruptcy.
- Consider a plan B: This may involve starting to look for a new job, updating your resume, or utilizing your network.
- Save on unnecessary expenses: If there is financial uncertainty, it can help to build up a buffer.
Trade union De Unie helps
At De Unie We understand how stressful and uncertain bankruptcy can be. Our legal specialists are ready to support you. We can help you file claims with the UWV (Employee Insurance Agency), check your contractual rights, and advise you throughout the process.
Please contact our Service Center via sc@unie.nl Or call us at 0345 851 963. We're available weekdays between 8:30 AM and 17:00 PM. Become a member and strengthen your rights!
