French President Francois Hollande’s administration is pushing for a new law that would require small to medium-sized businesses to notify employees of plans to sell the business, according to a Reuters report this week.
The idea behind the proposal is to give employees the opportunity to buy the company, and in the process save their jobs that could potentially be lost in a sale. The bill, which has not yet been formally submitted to the French parliament, would also provide workers with a seven-year period of favorable tax status to help employees finance a buyout bid.
