Is a company required to pay for vacation time accrues if they sell the company?
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Is a company required to pay for vacation time accrues if they sell the company?
Our company was sold and I had over 100
hrs of vacation time built up. The
company was sold and the new company
flipped the time to fmla time. Since
the employment was terminated by
selling the company, are they required
to reimburse for vacation time?
Asked on May 2, 2017 under Employment Labor Law, Colorado
Answers:
M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney
Answered 7 years ago | Contributor
In CO, when a worker's employment is terminated, employers must pay them for any earned but unused vacation time. However, this is a somewhat more complicated situation since your fomer company being tken over by another. You may want to contact your state's department f labor to find out more under specific state law. inthe maentime, here is a link to a site that you may find to be of help: https://ask-a-lawyer.freeadvice.com/law-questions/my-employer-sold-the-comp-129981.htm
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