closing the company, paying severance payment to employers?

[forumuser10]

edit: Oops, should be employee in the subject header, not employer

We might need to close the company, or file for bankrupcy.

Is this a complicated process?

I have heard that if firing an employee, severance payment needs to be payed, However, if the company will shut down, as it has no more money, does one still need to pay severance payment for employees?

I have heard it is not needed, but can someone confirm is this is correct?

Edited March 2, 2015 by forumuser10

[forumuser10]

anyone knows about this?

[steven100]

just glad i didn't work for you for the past 2 years .......