Bankcrupcy and and bankcrupcy protection (Chapter 11 filing) is different.
Few companies go to bankruptcy directly. Most need to file Chapter 11 first. If the court grants the protection, then the company don’t need to pay debt, stock dividend, etc. But the company has to pay employees salaries unless the employees are laid off, this required by law.
In short, for H1b holders, there is no difference if the company files Chapter 11 or not.
Actually many companies under protection are hiring; and many “normal” companies are firing.
Few companies go to bankruptcy directly. Most need to file Chapter 11 first. If the court grants the protection, then the company don’t need to pay debt, stock dividend, etc. But the company has to pay employees salaries unless the employees are laid off, this required by law.
In short, for H1b holders, there is no difference if the company files Chapter 11 or not.
Actually many companies under protection are hiring; and many “normal” companies are firing.
