As of 1 November, employees in companies with less than 250 employees must be informed of any sale plans. The terms of this obligation to provide prior warning were defined in a decree published today, 29 October. This measure, along with the hardship account — the workings of which were also specified by recent decrees —, raises further concerns amongst employers, who are adopting a zero-tolerance approach towards all new regulatory obligations.
As of 1 November, according to the Law on Social and Solidarity Economy of July last year (see article n°8535), the leader of a company — with less than 250 employees — planning the sale of business assets, a majority of shares or shares giving access to the majority of the company’s capital, must inform employees prior to the sale, so that they can prepare themselves for a possible purchase. This obligation applies to companies with less than 250 employees, an annual turnover of no more than €50 million and a balance not exceeding €43 million.
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