Re:Yellen says government will help SVB depositors but rules...
by tsimionescu on Sunday March 12, 2023 @12:06PM
(#35121799)
I'm sad to hear that, but by all accounts you should be able to receive your salary on Monday, when at least $250k should become available to your employer (though hopefully significantly more).
Re:Yellen says government will help SVB depositors but rules...
by cowsandmilk on Sunday March 12, 2023 @12:16PM
(#35121951)
At plenty of companies, 250k is not enough to make payroll.
Re:Yellen says government will help SVB depositors but rules...
by tsimionescu on Sunday March 12, 2023 @12:26PM
(#35122107)
Sure, but the actual amount should be significantly more (a comment around was saying that any account secured with two signatures is ensured up to 500k, for example). And, it should be enough for the mid-month payroll of a 25-person team, which is the kind of company GP was talking about.
Re:Yellen says government will help SVB depositors but rules...
by JumpCrisscross on Sunday March 12, 2023 @12:47PM
(#35122464)
> 250k is not enough to make payroll
Plenty of firms will buy the uninsured deposit claims at a discount. Taking the haircut to make essential payments is worth avoiding disruption.
No idea what's going to happen with insurance since some people were expecting
I'm generally treating it as being laid off with no severance and looking elsewhere