If it is a Court case, a properly issued and served subpoena has the authority of the Court. It is essentially a Court order requiring you to appear. Failing to comply with a subpoena can lead to sanctions, that may include a fine or worse. In some cases, the Judge will send deputies or marshalls to pick up a witness. You won't likely have lawyers here telling you that you can ignore the subpoena merely because you don't want to go. That said, we don't have a copy to review or know if it was properly served. You can either pay a lawyer to review it (and you still might have to go) or just show up and get it over with. Many cases settle anyway. To clarify one point of your post. If you testify, it is to testify honestly as you will be under oath. While you can probably assume that your employer believes your testimony will help their case (or they would not call you), you should not testify "against" the other person unless it is the truth. One possible way to get out of going is call the lawyer to discuss why they are calling you as a witness. If you can't help the case you may be released.
In theory, you can get into trouble for failure to comply with a legally issued and properly served subpoena. I suggest that you have the subpoena and the way it was served reviewed by an attorney to determine if the subpoena was properly issued and served.
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Mr. Riddle has given you a very good answer. If you truly do not have the means of getting to the hearing, you are entitled to compensation as a witness, contact the party who subpoenaed you and see if they are willing to assist you. If they really need you, they should be willing to help you get there.
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