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  1. Join Date
    Nov 2005
    Posts
    36,812
    #21
    Ya, that's why many people would rather NOT resign.

    Even if they hate the job, they would just perform badly and hope they get fired so they can collect severance pay.

  2. Join Date
    Oct 2002
    Posts
    2,716
    #22
    Quote Originally Posted by niky View Post
    Resignation doesn't entitle you to the same benefits as lay-off. If you're laid-off, depending on the circumstances, the company owes you severance pay.

    If you resign... sorry.
    again thanks for all the opinions

    yan din nga ang dilemna nya eh, matagal na sya sa company, around 10 years na, sayang yung makukuha nya (kung meron) kung sakaling mag layoff na lang to save the company.

    If he resigns, he gets nothing

  3. Join Date
    Oct 2002
    Posts
    13,415
    #23
    Si GMA nga ayaw magresign eh hehehe.

    Hirap kasi sa case na to, the cause for retrenchment is bankruptcy, not redundancy.

  4. Join Date
    Oct 2006
    Posts
    746
    #24
    Quote Originally Posted by niky View Post
    Resignation doesn't entitle you to the same benefits as lay-off. If you're laid-off, depending on the circumstances, the company owes you severance pay.

    If you resign... sorry.
    yeah ur ryt that is IF the issue was a mere cost cutting only...definitely there would be a retrenchment..BUT the main query was regarding the companys' BANKRUPTCY ...wherein u dont have any option...but if ur lucky enough to know the companys' bankruptcy b4hand...and u tend to file for an early retirement then u'l still get paid...depending on the length of service....
    Last edited by MaNgo_Crepe; November 8th, 2006 at 12:44 PM. Reason: misusage of the word resignation

  5. Join Date
    May 2005
    Posts
    739
    #25
    I think that's the same thing that happened in the U.S. regarding ENRON and WORLDCOM, both companies went bankrupt.

    Please read this article about workers who get nothing after their company went broke:

    http://www.mindfully.org/Industry/Wo...fer30sep02.htm

  6. Join Date
    Oct 2002
    Posts
    9,894
    #26
    Quote Originally Posted by MaNgo_Crepe View Post
    yeah ur ryt that is IF the issue was a mere cost cutting only...definitely there would be a retrenchment..BUT the main query was regarding the companys' BANKRUPTCY ...wherein u dont have any option...but if ur lucky enough to know the companys' bankruptcy b4hand...and u tend to file for a resignation..then u'l still get paid...depending on the length of service....
    this doesn't make sense to me kapatid....diba pag nagresign ka, you are voluntarily terminating your contract of employment? regardless of the reason, you're the one telling your company that you no longer wish to work for them. why would the company be obligated to pay me severance if i told them that?

    Quote Originally Posted by BoyFerrari View Post
    I think that's the same thing that happened in the U.S. regarding ENRON and WORLDCOM, both companies went bankrupt.

    Please read this article about workers who get nothing after their company went broke:

    http://www.mindfully.org/Industry/Wo...fer30sep02.htm
    masakit sa lahat, not only did the Enron employees lose their jobs but they lost their entire retirement savings that they had invested in company stock. unacceptable behavior by Enron management, but poor financial planning by the employees that put all their eggs in one basket.

  7. Join Date
    Jan 2003
    Posts
    50
    #27
    Had this similar situation, was employed by a certain company that was also going down the pits due to some uncontrollable reasons, I did try to stay hoping to get a severance pay, but things went from bad to worst, bottomline I did resign good thing I found a replacement job, whew!

    So at the first sign of bad sign in the company you are working for, better start updating your resume and shop around for a new job.

  8. Join Date
    Jun 2005
    Posts
    130
    #28
    Quote Originally Posted by MaNgo_Crepe View Post
    but if ur lucky enough to know the companys' bankruptcy b4hand...and u tend to file for a resignation..then u'l still get paid...depending on the length of service....
    Being laid-off and filing for a resignation are two different things.

    When you resign, you are NOT entitled to severance pay. Severance pay, from the name itself, is payment to you because you are being "severed" by the company involuntarily. Resignation - you are severing yourself from the company by your own free will, therefore the company is not obligated to pay you when you decide to leave the company on your own.

    One alternative is filing for early retirement instead of resignation. However, early retirement is a company-specific benefit with defined qualification requirements.

  9. Join Date
    Jan 2003
    Posts
    2,979
    #29
    Quote Originally Posted by progen View Post
    Had this similar situation, was employed by a certain company that was also going down the pits due to some uncontrollable reasons, I did try to stay hoping to get a severance pay, but things went from bad to worst, bottomline I did resign good thing I found a replacement job, whew!

    So at the first sign of bad sign in the company you are working for, better start updating your resume and shop around for a new job.
    the best advice that you could give to your friend.... ang problema pag medyo may age na yun friend mo at di na marketable ang skills nya... tapos kung wala pa naipon para magstart ng business... hmmm.... kawawa naman yun friend mo...

  10. Join Date
    Oct 2006
    Posts
    746
    #30
    Quote Originally Posted by DoctorDoom View Post
    Being laid-off and filing for a resignation are two different things.

    When you resign, you are NOT entitled to severance pay. Severance pay, from the name itself, is payment to you because you are being "severed" by the company involuntarily. Resignation - you are severing yourself from the company by your own free will, therefore the company is not obligated to pay you when you decide to leave the company on your own.

    One alternative is filing for early retirement instead of resignation. However, early retirement is a company-specific benefit with defined qualification requirements.
    OH sorry...that's what i meant...the early retirement program...self employed kz....

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