My first post ever in this thread, and it's pretty minor, but the situation instantly made me think of this. Usually our payroll direct deposits on Thursdays. I keep meticulous records of our finances, so I've been checking all day, and nothing has posted yet. Minor annoyance but not a big deal for us. Plenty in checking to cover yesterday's mortgage auto-pay and preschool (who won't take a credit card, grrr for missing out on travel rewards). Credit card bill not due until 2/17, plenty of time to move money from savings to cover if necessary. They finally sent out an email this afternoon that there was an ADP issue and direct deposits SHOULD post tomorrow. My mustachian people problem is that I can NOT relate to co-workers who are flipping out about it. A one day delay should really NOT be a crisis.
But it can be a sign that the company is in crisis..... you never know.
DH had a small business (ok, over 150 employees after 2 years) employer that would often delay pay by a few days or a week (until the large sale would clear), etc. BAD sign. Company folded within 3 months, and employees were suddenly out of work, no notice or severance, employee stock purchases worth pennies, out of pocket for any un-paid vacation owing, contract employees owed over a month of pay, etc.
Just heard about a company near me that suddenly boarded its doors. Not only did the employees not get paid for their last week, but they actually went and REVERSED the last pay-period direct deposit postings from the prior week. Yup, they have a case in court, but try to get some money from a company that is worthless.
My wife went to a gas station and filled up. She went inside to pay, told the cashier the pump, and placed a few items on the counter to purchase. Signed the cc slip and left without noticing the gas was not added to the bill. The police called her before she even got home and she had to drive back to pay to avoid an arrest. Anyone else find it strange that police protection is offered for one theft, but not others? Why do businesses get any more protections? They are people, just like us, aren't they?
Here is a story on the closing.http://journaltimes.com/business/local/former-workers-last-paychecks-threatened/article_6df91834-cd4e-5d64-925a-7e00412c4130.html
Summary of the article:
A local Credit Union (fair disclosure; MY Credit Union :)) refused the reversals. So did 1 bank for 1 former employee.
The 401k withholdings, as well as the medical and dental insurance payments from the last 2 paychecks were never transferred to their expected destinations, according to 1 former employee.
A local Senator is "looking into the matter". The company was a large contributor to the governor from the same party as the Senator(information not in THIS article, but reported in others).
A letter went to all of them, describing what transpired. It began, "Dear ex-employee," and blamed the issue on the bank issuing credit to the company.
I find the article an important read. It is quite possible this company did NOTHING illegal. Kind of makes me wonder what will be done to give MORE power to businesses. Progress indeed.