In many cases, your organisation’s Transactions will be handled by your M&A or general commercial lawyer.
Many Transactions have employment law issues and consequences and these may require specialist input.
Transactions may include:
- buying or selling a business or part of a business
- outsourcing a business function to a third party provider
- offering employment to a group of employees who had been supplied by a labour hire or outplacement agency
- in-sourcing a previously outsourced function
In each of these Transaction types:
- there can be serious questions affecting employees and
- different questions for executives, managers and Award or Enterprise Agreement covered employees
If you are selling part or all of a business, one of the major financial risks is for employee entitlements, so you want to try to make sure that these are assumed by the buyer and redundancy pay is not payable.
If you are outsourcing a business function and your employees are impacted, you want to not only protect the business, but also to obtain the best outcome for those employees.
For employees with complex contracts and incentive arrangements like many senior executives, a Transaction may present a number of outcomes that had not been planned when the contract or incentive was devised.
Just some food for thought. We hope we can assist you.