Are we entitled to have our separation pay?

Hi,

I've been working in a company for 2 years, without further notice our boss decided to change the name of the company and asked each one of us to sign a resignation letter to formally resign from our previous company and sign a new contract for the new company name (not yet registered).

Most of us doesn't want to sign the new contract, since there will be a new security bond (half of our salary will be deducted for a month) and its really unfair on our end since on the previous company name we already have that security bond.

Now, my question is are we entitled to have our separation pay? Can we call it a forced resignation?

Since we're not informed ahead that this will happen to our company. We don't have a choice but to stay, most of us has it's own family to support.

Thank you.

Yes, you guys are entitled for a separation pay and even the company change their name multiple times they will still obliged to pay you for the years you guys served them and since they ask you to resign, Its automatic.

What then should we do? Our company accountant says that our boss didn't approve the separation pay.

only recourse is to file a complaint against the previous company

I agree with lukekyle, you should file a complaint against them. There's no clear basis why they should not give you guys your separation pay.