If a business owner decides to sell his/her company, do the employees of that company have a right to know?

Question

If there are implications for employees such as the sudden need to find a new job due to transitional layoffs, etc., should they be warned in time to make other arrangements? What is the commonly accepted way to handle this situation?

Answer 1

If the employees are going to lose their jobs or be laid off, the Labor Board has directions for the amount of time before the event that the employees must be told. That way if it's union, there's time to sort out who can bump who where and stay employed. Non-union workers can start making plans to find another job. White collar workers get severance pay.

If the plant is moving (in the US), it would be appreciated by the workers if the company gave them sufficient notice. Some would go, and some wouldn't. If the company is moving offshore, it gets much more complicated.

Answer 2

That depends on the size of Company n Arrangement with the buyer.

Mostly ,the Employ will not b effected n in other words they will b more benefitted (if the buying Co is MNC.)

Also depends on the agrrements n  arrangements with Labor unions.