Company Buyout

On friday January 9th, 2009 I cam to work and was working a normal day, all was thought to be going good for my company. I came in on Monday January 12th, 2009, to find out that on Saturday January 10th, 2009, the company had been sold. without notice to employees. We were never told that the company was up for sale and was not notified ahead of time about a possible buyout of the company. I was informed last night that a company is suppose to give its full time employess notice of intent to sell with at least a 60 day notice so that employees can have ample amount of time to find employment. I was wondering if this sort of idea was present in law and if so what can be done about it by the employees of the company?

1 answer  |  asked Jan 13, 2009 08:05 AM [EST]  |  applies to Ohio

Answers (1)

Neil Klingshirn
WARN requires 60 days notice

The federal Workers Adjustment and Retraining Act (WARN) requires employers to provide 60 days advance notice of a "mass layoff" or a "plant shutdown." WARN does not, however, apply to the sale of a company.

posted by Neil Klingshirn  |  Jan 13, 2009 11:20 AM [EST]

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