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Vol.17 2010.7
LEGAL CORNER
Financial Industry M&A Will Have to Keep the Employees of Eliminated Company
The Council of Labor Affairs announced the draft adjustment of Labor Standards Act. In the first draft, the companies in financial industry can not lay off employees of eliminated company during merger and acquisition, unless the employees of eliminated company resist to be employed by the merging company. The labor contract should remain, and the working conditions of employees from original company and eliminated company must be the same. This draft adjustment will face further discussion in the future.
(Source: Commercial Times)
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