Buyer Beware: The Hidden Cost of Labor in an International Merger and Acquisition
- ISBN-10
- 1631575996
- ISBN-13
- 9781631575990
- Series
- Buyer Beware
- Category
- Business & Economics
- Pages
- 79
- Language
- English
- Published
- 2016-12-29
- Publisher
- Business Expert Press
- Authors
- Elvira Medici, Linda J. Spievack
Description
Recent years have seen a huge growth in European cross-border mergers and acquisitions (M&A), and considerable attention has been given to how such deals arise and are completed. A U.S. investor must understand the basic difference in the principle of individual labor law in the U.S. and how it compares with the laws of the target country in an M&A. In the U.S., under the employment at-will doctrine, the U.S. private sector employers can dismiss their non-unionized employees at any time for any reason or even no reason at all. In most European Union (EU) countries and Germany and Italy specifically, employees are presumed to have a basic right to keep their jobs indefinitely. One of the greatest labor cost disparity with the U.S. is not wages. It is the amount of paid time-off and other benefits. Employers in Germany and Italy will find it difficult to discharge employees without incurring substantial liability. For high-level, long-term employees, these severance payments can run into six or even seven figures.
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Other editions
-
- 2017-01-30
- 208 pages
- Ebook
- Penguin Random House New Zealand Limited
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