An Introduction to Employee Benefits Issues Confronted by Financially Distressed Companies

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In order to survive in an ever more competitive business climate financially distressed companies must confront the awkward and counterintuitive business strategy of accomplishing a successful reorganization. Part of orchestrating a successful restructuring (either inside or outside of bankruptcy) is identifying the legal issues involved with executing a business plan. In executing a plan of reorganization, reducing or reconfiguring employee compensation and the more drastic option of downsizing must often be considered. However, many businessmen are unaware of the array of laws governing the methods by which reorganization of a company’s work force and/or the work force’s compensation structure are governed. This article provides a primer on employment laws that apply to financially distressed businesses.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Jeffrey Sklarz, Zeisler & Zeisler, P.C. | Attorney Advertising

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