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Thanks for clarifying. Is this new? I know that I've seen less notice during dot com bust 1.0, and in mid 2000s Wall Street.
by mathattack 10y ago
Thanks for clarifying. Is this new? I know that I've seen less notice during dot com bust 1.0, and in mid 2000s Wall Street.
- dragonwriter 10y agoWARN Act is from 1988. [0] [0] https://en.wikipedia.org/wiki/Worker_Adjustment_and_Retraining_Notification_Act https://en.wikipedia.org/wiki/Worker_Adjustment_and_Retraini...
- TheCoelacanth 10y agoIt doesn't apply to all layoffs, only those where the companies have 100+ employees and layoff 50+ employees. There are also some exceptions in the case of bankruptcy.
- mathattack 10y agoI think it would be very hard to enforce in bankruptcy. I recall running into this at another company too. Just surprised that it's not universal. I think in Wall Street they do a lot of wink-wink nod-nod that it's performance based when they lay off 5-10% of the workforce right before bonuses get paid.