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Don't overreach on protecting jobs


POSTED: 01:30 a.m. HST, Apr 11, 2013

~~<p>Organized labor has suggested for years that employees of a large business in Hawaii should be guaranteed by law to keep their jobs in case the company is sold. Such job security, though, would be unprecedented and could result in major problems for companies being put up for sale. Potential buyers are likely to be reluctant to consider such a purchase, which could result in unintended wholesale job loss if company options are limited and micromanaged under a bill moving through the state Legislature.</p>
<p>The bill, which has been moving in nearly identical versions by the state House and Senate, would require the buyer of any business with at least 100 employees to retain the non-management staff. No other state has such a law, according to the Chamber of Commerce of Hawaii.</p>
~~

Organized labor has suggested for years that employees of a large business in Hawaii should be guaranteed by law to keep their jobs in case the company is sold. Such job security, though, would be unprecedented and could result in major problems for companies being put up for sale. Potential buyers are likely to be reluctant to consider such a purchase, which could result in unintended wholesale job loss if company options are limited and micromanaged under a bill moving through the state Legislature.

The bill, which has been moving in nearly identical versions by the state House and Senate, would require the buyer of any business with at least 100 employees to retain the non-management staff. No other state has such a law, according to the Chamber of Commerce of Hawaii. Login for more...



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