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.