What should the property company do if it faces bankruptcy?

If a property company closes down, it shall pay economic compensation to the employees in accordance with the provisions of the first paragraph of Article 47 of the Labor Contract Law. The specific payment standard is: pay one month's salary every year according to the number of years the laborer has worked in this unit. For more than six months but less than one year, it shall be counted as one year; If it is less than six months, economic compensation of half a month's salary shall be paid to the workers.

The second and third paragraphs of Article 47 of the Labor Contract Law stipulate that if the monthly salary of a worker is three times higher than the average monthly salary of local workers announced by the people's government of the municipality directly under the central government where the employer is located, the standard for paying economic compensation to the worker is three times the average monthly salary, and the longest period for paying economic compensation to the worker shall not exceed 12 years.

The monthly salary mentioned in this article refers to the average salary of workers in the twelve months before the dissolution or termination of the labor contract.