This is (regrettably) common at poorly capitalized companies, as employees are the biggest expense and as making payroll on time every single time requires discipline. You have to make payroll, on time, every time. That is the only expense for which this is true.https://twitter.com/Austen/status/1085553659738378241 …
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Every other counterparty is a sophisticated business which has already priced in your counterparty risk. Employees treat payroll as a sacred trust. That may be suboptimal personal financial management but they’re outsourcing sophisticated risk management to a business i.e. you.
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My best work experience was related to this - worked for a startup which ran out of money, but they made sure to shut things down when there was still enough in the bank to pay everyone the current month's salary, plus their full notice period.
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I hate that being something unusual, but it made sure everyone parted on good terms, rather than with a bitter taste in their mouth spoiling years of good feeling toward the company.
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