And You Thought the Bailout Was Bad: Employment Law Risks in the Current Financial Crisis
Steven Friedman, Gerald T. Hathaway, Bruce R. Millman, Mi - Littler Mendelson, P.C.
January 19, 2009
As the current economic crisis escalates and governmental plans to provide billions of dollars to intervene in the capital markets take shape, financial institutions and other businesses are being forced to restructure their operations through merger, acquisition or reductions in force. The tough economic climate will also, no doubt, lead companies to reassess their benefit plans and executive compensation packages. However, employers must evaluate their own responses to these developments to ensure that they are complying with legal requirements and proceeding cautiously. There are several, critical employment law issues that must be taken into account in any organization’s plan to address the new economic realities especially if reductions in force are a part of the organization’s strategy.
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