
Howard D. Bader
Partner
212-784-6926 hbader@sh-law.comFirm Insights
Author: Howard D. Bader
Date: October 30, 2020
Partner
212-784-6926 hbader@sh-law.comAs businesses work to overcome the economic fallout of the COVID-19 pandemic, workforce reductions can help significantly reduce costs. However, in order to benefit from the savings, businesses must comply with all legal obligations. If not, the layoffs may end up hurting your bottom line.
Several companies being hard-hit by the pandemic have announced mass layoffs in recent weeks. Late last month, the Walt Disney Co. announced a reduction in force that involved 28,000 theme park employees. American Airlines announced it is furloughing nearly 19,000 workers.
If your company is contemplating a temporary or permanent reduction in staff, we encourage you to make a comprehensive plan that addresses the myriad of legal issues that may arise. Below are several important issues to consider:
Given the wide range of legal issues that may arise when conducting furloughs, layoffs, and reductions in force, it is essential to work with experienced legal counsel. A knowledgeable attorney can walk you through the process and help ensure that the process achieves the cost-saving you intend. To discuss your company’s unique circumstances, we encourage you to contact a member of Scarinci Hollenbeck’s Labor & Employment Group.
If you have any questions or if you would like to discuss the matter further, please contact me, Howard Bader, or the Scarinci Hollenbeck attorney with whom you work, at 201-896-4100.
No Aspect of the advertisement has been approved by the Supreme Court. Results may vary depending on your particular facts and legal circumstances.
Secured transactions form the backbone of a wide range of business dealings, including business loans, mortgages, and inventory financing. Because the stakes are often high and relatively minor oversights can have drastic consequences, lenders and borrowers should thoroughly understand how to form an enforceable security agreement that protects their legal rights. What Is a Secured […]
Author: Dan Brecher
Cashing a check marked “paid in full” can be a risky endeavor, particularly if you don’t fully understanding the legal implications. If you are owed more than the amount of the check you accept and deposit, you may waive your right to collect the full disputed amount. That is why you should consider either rejecting […]
Author: Dan Brecher
The One Big Beautiful Bill Act of 2025 (OBBBA) significantly impacts federal taxes, credits, and deductions. A key change relating to Qualified Small Business Stock (QSBS) allows greater tax-free gains for investments in startups and other qualifying small businesses. Company founders and other investors should understand how the enhanced tax strategy works or risk missing […]
Author: Dan Brecher
Corporate consolidation involves two or more businesses merging to become a single larger entity. The result is often a stronger and more competitive company that can better navigate today’s competitive marketplace. What Is Corporate Consolidation? Corporate consolidation closely resembles a basic merger transaction. The primary difference is that a consolidation creates an entirely new business […]
Author: Dan Brecher
Business law plays a critical role in nearly every aspect of running a successful enterprise, from negotiating a commercial lease to drafting employee policies to fulfilling corporate disclosure obligations. Understanding what is business law and your legal obligations can help your business run smoothly and build productive relationships with clients, business partners, regulators, and others. […]
Author: Dan Brecher
Corporate transactions can have significant implications for a corporation and its stakeholders. For deals to be successful, companies must act strategically to maximize value and minimize risk. It is also important to fully understand the legal and financial ramifications of corporate transactions, both in the near and long term. Understanding Corporate Transactions The term “corporate […]
Author: Dan Brecher
No Aspect of the advertisement has been approved by the Supreme Court. Results may vary depending on your particular facts and legal circumstances.
Consider subscribing to our Firm Insights mailing list by clicking the button below so you can keep up to date with the firm`s latest articles covering various legal topics.
Stay informed and inspired with the latest updates, insights, and events from Scarinci Hollenbeck. Our resource library provides valuable content across a range of categories to keep you connected and ahead of the curve.
Let`s get in touch!
Sign up to get the latest from the Scarinci Hollenbeck, LLC attorneys!