The company I work for is selling to a new owner, and I (as well as many others) have vacation time accrued. My anniversary was in Dec so I have 10 days paid vacation time coming. I googled to see if my employer has to pay me (cash out) my vacation time when his company closes.
I saw that "Labor Code Section 227.3 states that all earned vacation time must be paid to an employee when employment is terminated.
Upon termination of employment, California law requires employers to pay employees all earned vacation pay, at the final pay rate of the employee." This is where I got the info: http://www.ehow.com/about_6367514_ca...ation-law.html
Since the company is closing, that is considered termination, and therefore he has to pay me for 10 days of vacation time, plus any accrued time since my anniversary date to the day we close. Is this correct?? Are there any loopholes? If he does not pay for my vacation time, I can go to the labor board, correct?