”What are we doing about the employees?” That is the all-too-familiar question asked in the purchase and sale of a business. Are all the employees fired on closing? What happens if they continue working for the purchaser? Who is responsible for paying them severance?
In fact, there are a lot of questions concerning employees in the context of a purchase and sale of a business; presuming that the business has employees.
The purpose of this post is to look at some of the issues and legal implications involved in selling or buying a business, which is also an employer.