Due in part to high labour costs there is very much a different approach. Holland has a system whereby companies find unloading staff an expensive business - although this is legally enforced and very much under attack. Of course there are abusers on both sides and some dirty methods used to get by the laws. In England the employers have it good, with virtually no moral nor legal obligation towards staff remaining. Not all exploit this and of course there are a plethora of complex issues. I have no knowledge of the Irish employment law but was puzzled that this announcement follows so close on an acquisition.
Contrast this with the sale of a company in the thirties:
He has been particularly anxious to safeguard the interests of the thousands of friendly customers who had given loyal support to his old firm during three generations and also to find positions for his skilled and efficient staff.
“I am glad to announce,” he said, “that a most satisfactory arrangement has been come to with my old friends, Messrs. ....
A dead attitude? Not completely, American business take staff obligation quite seriously but then there is a whole different philosophy at work there.
Yet, only last week UK government were talking about introducing voluntary codes for private equity firms - the reason being given that it is now private equity that is taking over firms for asset stripping purposes and because of their status can keep it completely out of the public eye.
