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YC

Y Combinator Cast

04/28/17

@ Y Combinator

Pay all wages and accrued vacation immediately upon termination, as this is a legal requirement.

Video

YC

Legal and Accounting Basics for Startups with Kirsty Nathoo and Carolynn Levy (HtSaS 2014: 18)

@ Y Combinator

Legal and Accounting Basics for Startups with Kirsty Nathoo and Carolynn Levy (HtSaS 2014: 18)

04/28/17

Related Takeaways

YC

Y Combinator Cast

04/28/17

@ Y Combinator

When terminating an employee, communicate clearly and directly without making excuses or apologies.

YC

Y Combinator Cast

04/28/17

@ Y Combinator

If a terminated employee has invested shares, repurchase them promptly to avoid complications.

YC

Y Combinator Cast

04/28/17

@ Y Combinator

Cut off access to company systems immediately after termination to protect sensitive information.

YC

Y Combinator Cast

04/28/17

@ Y Combinator

Set up a payroll service to manage employee payments and payroll taxes effectively, as neglecting this can lead to severe financial consequences.

YC

Y Combinator Cast

04/28/17

@ Y Combinator

Firing an employee is a difficult but necessary task; do it quickly and professionally to maintain company morale and productivity.

YC

Y Combinator Cast

11/01/17

@ Y Combinator

Even during tough times, it's important to prioritize payroll and ensure no one on the team experiences missed or delayed payments.

YC

Y Combinator Cast

04/28/17

@ Y Combinator

Always verify that employees are authorized to work in the U.S. to avoid legal issues.

YC

Y Combinator Cast

04/28/17

@ Y Combinator

Effective startup founders handle employee terminations well, which is a hallmark of professionalism.

BH

Ben Horowitz

04/21/17

@ Y Combinator

It's crucial to consider the reputational impact on your company when terminating an employee, especially regarding their ability to exercise stock options and the fairness of the process.