What happens to the staff when a company goes into receivership?

When a company goes into receivership, the staff may face immediate uncertainty regarding their employment. Employees can be retained by the receiver, but their roles and job security depend on the receiver's assessment of the business's viability. In some cases, layoffs may occur, particularly if restructuring is necessary. Ultimately, the fate of the staff is often determined by the receiver's plans for the company's assets and operations.