Like the Minister of Labor, Michel Sapin, had announced when the Council of Ministers adopted the bill on secure employment – which introduces the obligation for businesses thinking about shutting an undertaking down to look for a buyer –, the socialist group sent the National Assembly a “Bill to recover prospects for the real economic and industrial employment” on April 30. The text transposes the entailments of the new measures into the Commercial Code. The Commercial Court will have to monitor compliance with this obligation and with the procedure for informing and consulting the works council regarding processes to find a buyer. Failing to comply could be punished with a fine amounting to up to 20 times the amount of minimum wage for each job cut. (Ref. 130292)
This obligation to look for a buyer targets businesses with 1,000+ employees thinking about closing a site with at least 50 employees. The bill prepared by the National Assembly’s socialist group works with the bill on secure employment, which the Parliament should permanently adopt on May 14 and which transposes the obligation into the Labor Code (see article No. 130156). It provides that, when looking for a buyer, the company has to issue a social, economic and environment report on the si
…Do you have information to share with us?