Late paycheck concern

[fishhack2009]

Hey guys...

I have a concern I want to get some feedback on ... The newspaper company I work for just filed Chapter 11 last week. We were assured at the time that the filing would not affect pay or benefits.

We were due to get paid yesterday, Jan. 1. We were informed yesterday that we'll get our checks on Monday ... publisher claiming the delay is due to not wanting to mess up W-2s.

If work is done in 2009, doesn't it need to go on 2009's W-2? My instincts tell me this is an accounting gimmick and possibly a sign of a company with cash-flow issues.

Thoughts? Am I right to be concerned?

 

[BTExpress]

Everywhere I have worked, payroll goes in a day early on holiday weeks.

 

[fishhack2009]

Everywhere I have worked, payroll goes in a day early on holiday weeks.

Me too... which is the main cause for my concern...

 

[apeman33]

If we have a holiday fall on Monday, Tuesday or Wednesday of a given week, we don't get our check until Thursday (our paydays are Wednesday). The reason is supposed to be so that office managers and the payroll department don't have to sweat playing catch-up during the week. Whatever.

In your case, Monday is the next business day. This was probably just so your payroll department didn't have to come in and work on Saturday (which might result in overtime, which your company might not want to pay right now). If you don't get your check Monday, that's when I'd start to worry.

 

[fishhack2009]

If we have a holiday fall on Monday, Tuesday or Wednesday of a given week, we don't get our check until Thursday (our paydays are Wednesday). The reason is supposed to be so that office managers and the payroll department don't have to sweat playing catch-up during the week. Whatever.

In your case, Monday is the next business day. This was probably just so your payroll department didn't have to come in and work on Saturday (which might result in overtime, which your company might not want to pay right now). If you don't get your check Monday, that's when I'd start to worry.

That makes sense...but Fridays are our usual paydays...

 

[deskslave]

If we have a holiday fall on Monday, Tuesday or Wednesday of a given week, we don't get our check until Thursday (our paydays are Wednesday). The reason is supposed to be so that office managers and the payroll department don't have to sweat playing catch-up during the week. Whatever.

In your case, Monday is the next business day. This was probably just so your payroll department didn't have to come in and work on Saturday (which might result in overtime, which your company might not want to pay right now). If you don't get your check Monday, that's when I'd start to worry.

Bull. It's the same amount of work, whatever day you have to get paid on. Heaven forbid the folks in the accounting office might have to work past 5 p.m.

Rent checks are typically due the first of the month. You don't **** around with people's finances just so that the accounting folks don't have to work an extra half-hour.

 

[apeman33]

If we have a holiday fall on Monday, Tuesday or Wednesday of a given week, we don't get our check until Thursday (our paydays are Wednesday). The reason is supposed to be so that office managers and the payroll department don't have to sweat playing catch-up during the week. Whatever.

In your case, Monday is the next business day. This was probably just so your payroll department didn't have to come in and work on Saturday (which might result in overtime, which your company might not want to pay right now). If you don't get your check Monday, that's when I'd start to worry.

Bull. It's the same amount of work, whatever day you have to get paid on. Heaven forbid the folks in the accounting office might have to work past 5 p.m.

Rent checks are typically due the first of the month. You don't **** around with people's finances just so that the accounting folks don't have to work an extra half-hour.

So you're saying the company should care about us as people instead of the bottom line? What alternate universe are you posting from and how do I get there?

 

[Screwball]

Whatever the issue is, bankruptcy should not be the reason. I work for a newspaper chain in bankruptcy and the checks have continued to come on time. (The bankruptcy court and creditors probably would be interested to know that the paper can't pay its bills on time even after debt payments have been frozen.)

 

[Baron Scicluna]

If we have a holiday fall on Monday, Tuesday or Wednesday of a given week, we don't get our check until Thursday (our paydays are Wednesday). The reason is supposed to be so that office managers and the payroll department don't have to sweat playing catch-up during the week. Whatever.

In your case, Monday is the next business day. This was probably just so your payroll department didn't have to come in and work on Saturday (which might result in overtime, which your company might not want to pay right now). If you don't get your check Monday, that's when I'd start to worry.

That makes sense...but Fridays are our usual paydays...

And if your company didn't want to make your check available on Friday, then they should have done it on Thursday. They should have processed the checks a day earlier.

Like Apeman says, I would be more worried if the check didn't come on Monday. But I'd still be pissed that the company held your money for three extra days, drawing interest on it as well. A professional company doesn't **** things up for their employees. Your company isn't acting professional

 

[bydesign77]

When I transferred to DC my company screwed up and I didn't get paid. I submitted all late charges overdrafts etc and made them reimburse me.

Now your company is up to no good. Our normal payday was scheduled for 1 Jan but they paid us a day early. Not only that by since that was paycheck 27 this year there were no withholdings for insurance. So we got a small bonus that way.

 

[zagoshe]

I think what you should do is take a few computers home, just in case the place closes and you don't get paid, you can sell them to make up for it.....

 

[BTExpress]

Not only that by since that was paycheck 27 this year there were no withholdings for insurance. So we got a small bonus that way.

That was the first of two nice surprises this week.

Today I got my escrow analysis from mortgage company. Mortgage is dropping $50 a month in 2010, and I got a $780 check because of a surplus in the escrow (thanks to lower homeowners insurance).

 

[apeman33]

Now your company is up to no good. Our normal payday was scheduled for 1 Jan but they paid us a day early. Not only that by since that was paycheck 27 this year there were no withholdings for insurance. So we got a small bonus that way.

27 checks? Wow. We only get 26 but on the last check of a 3-check month (happens twice a year), we don't have the insurance withheld. Last Wednesday's paycheck was the third check of the second 3-check month, so I'll have about 50 extra bucks.

 

[Baron Scicluna]

I think what you should do is take a few computers home, just in case the place closes and you don't get paid, you can sell them to make up for it.....

This.

If your company complains, tell them it's collateral until you get paid.

 

[WolvEagle]

The parent company of the paper I work for emerged from bankruptcy last year. No paychecks were late.

Something in your case is not right. Please let us know what happens Monday.

 

[FuturaBold]

if it's the company i think you're talking about, they also bounced a mileage check last week with someone I knew... probably just a screw-up like you or I typically make with overdrawing an account but definitely not what folks like to see right after a Chapter 11 filing is announced... the company had the money in this person's hands the next day so at least they made up for their gaffe.. and the paychecks weren't late...

 

[lone star scribe]

It could be as simple as an end-of-year accounting deal. Our "year" ended on Dec. 27, so the last four days of December are paid in 2010. It's just because that's when the end of the two-week pay cycle fell, nothing sinister.

But soon as you get it, cash that check.

 

[jfs1000]

If they are bridging payroll to Monday ---CASH THAT CHECK QUICK.

They didn't pay on Thursday because they didn't have it. It's that simple. Companies don't hold onto payroll late.

I would run for the hills. They are trying to find some funding. I would also take some computers home. I would grab any asset I could as collateral.

 

[Baron Scicluna]

So what happened today, Fishhack? Did you get your check today?

 

[fishhack2009]

So what happened today, Fishhack? Did you get your check today?

Hey guys...

Just an update ... we did get our checks on Monday. They were dated Friday ... still not sure what the rationale was...going to stop by the publisher's office today and ask what the deal was.