Unemployment rate in Germany is about 5%, so comparable. As with many labor protection laws, it is a mixed bag. Basically the regulation I have mentioned tries

Unemployment rate in Germany is about 5%, so comparable. As with many labor protection laws, it is a mixed bag. Basically the regulation I have mentioned tries to separate the cases of "true asset deal" vs. "fake asset deal". That works most of the times, but sometimes an asset deal that was supposed to serve a genuinely good cause (one business trying to sell off a technology to another) to later got flagged as a transfer of business by courts, causing companies to go bankrupt, with ALL jobs being lost. Being an employer myself, I once got bitten with wrongly getting flagged when trying to rescue the technology my shareholders had financially run into the ground, but a higher court later corrected that and decided that the motivation of the asset deal had been proper.