NSW Does Notice Period for Resignation Apply When Business is Being Bought?

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JP Beaudoin

Member
14 April 2016
1
0
1
Hi,

My query relates to employment law and whether I need to give any notice of resignation or not when my company is being bought out.

My situation is the following:

Our company is in the process of being bought out and the plan is that we will be signing new employment contracts start of June. My current employment contract states I must give at least 8 weeks notice when terminating my contract. I am unsure whether I will be sticking with the business as my partner and I might be accepting a position overseas.

Our earliest decision on this will be made end of April for a start in the new company starting early June this same year. Our current employers will remain employees of the new business. I have worked for the same company for over 8 years and am entitled to pro-rata long service leave payment at the termination of my contract.

My questions are:

1) Does my 8-week notice apply or would I be able to leave work 1st June at the moment of signing my new employment contract?

2) Do I forfeit my pro-rata long service leave payment the moment I give my resignation notice?

Thank you.

Regards,
 

Serge Gorval

Well-Known Member
LawTap Verified
2 November 2015
201
12
614
Sydney
lawtap.com
Do not resign before transfer of employment. You will forgo your redundancy entitlements!