Sequentially or concurrently
The answer depends on what is meant by 'at the same time'. If the code handling employees clocking in (and therefore raising the event) were running in multiple threads, then the event handler might be executed concurrently in multiple threads. If the code were single threaded then the event handler would be executed sequentially for each employee. It all depends on the nature of the event source.
If you do not know the nature of the code which might raise the event, and do not wish the handler to be executed concurrently in multiple threads, then you must implement some synchronization checks, with lock in C# or SyncLock in VB.