Remember Employment and Benefit Issues
When a business makes the decision to purchase a business or puts a business up for sale, there are important things that should reviewed: Employment and Benefit Issues: WARN Act: The federal Worker Adjustment and Retraining Notification (“WARN”) Act requires covered employers (“Covered Employers”) to give its employees and certain government officials sixty days’ notice of a mass layoff or plant closing which affects fifty or more employes at a single site of employment. Covered employers are those with on e hundred or more full-time employees, who have been employed for at least six month of the twelve months preceding the date of the required notic e. Many sales of businesses result in employment losses at Covered Employers, so WARN Act implications must be analyzed. In addition, due diligence should be conducted into prior mass layoffs and/or plant closings conducted by the seller to determine if they were triggering events under the WARN Act, ...