Protecting Communities and Workers: New Mass Layoff Rules
This act changes rules for mass layoffs and plant closings. Companies not facing financial hardship will need to pay for studies on the economic impact of layoffs on local communities and compensate for financial losses. This aims to protect workers and local economies from the negative effects of mass job losses.
Key points
Companies planning mass layoffs or plant closings must fund an economic impact study for affected local governments.
If a company is not in financial hardship, it must compensate local communities for financial losses due to layoffs.
Definitions of mass layoffs and plant closings are expanded to include smaller groups of employees and multi-employer sites.
Employers must notify more entities, including state representatives and Members of Congress, about planned layoffs.
Expired
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