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PG&E May Give Bankruptcy Notices to Staff on Monday

  • State law passed last year requires 15-day notice to employees
  • Utility giant facing billions in liabilities from wildfires
PG&E Hydroelectric Plant In Alta, California

Photographer: Ken James/Bloomberg

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PG&E Corp., the California utility giant facing billions of dollars in wildfire liabilities, may notify employees as soon as Monday that it’s preparing a potential bankruptcy filing, according to people familiar with the situation.

The San Francisco-based utility owner is planning to send the notice to fulfill a state law that requires the company to alert workers at least 15 days before a change of control, said the people, asking not to be identified because the information isn’t public. The notice wouldn’t necessarily make a bankruptcy filing certain and the company could still decide not to if its situation changes, one of the people said.