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Mass layoffs may violate labor laws.
Investigation Source
- Nationwide
Investigation Scope
Category Information
Investigation Topic
- Failure To Pay Benefits During Large Layoffs
Product or Service
- Your Occupation
Injury Type
- Monetary Loss
Investigation Details
Federal law requires an employer making a mass layoff of 500 or more employees or 20% of its workforce provide 60-day written notice. Employers that fail to do this may be liable for back pay and benefits for the period of violation up to 60 days as well as civil penalties. Given the current economic climate and the recent announcement of layoffs at Citigroup, Inc., Circuit City, DHL Express, Steve & Barry's, Mervyn's LLC, York Capital Management, AT&T, Inc., Viacom, DuPont, Co., Avis Rent a Car, Avis Budget Group, Inc., The Dow Chemical Company, Bank of America Corp. and Sony Corp., this investigation centers around whether these and other companies have provided adequate notice under federal and state labor laws.
Defendant Details
| Name (Stock Symbol) | Brief Description |
|---|---|
| AT&T, Inc. (T) | AT&T provides wireless and wireline telecommunications services globally. |
| Citigroup Inc. (C) | Citigroup Inc. provides a range of financial products and services to consumer and corporate customers. The company operates through four segments: Global Cards, Consumer Banking, Institutional Clients Group, and Global Wealth Management. The Global Cards segment offers MasterCard, VISA, Diners Club, private label, and American Express card products. The Consumer Banking segment involves in retail banking, consumer finance, real estate lending, and small and middle market commercial banking; and provides personal and auto loans, student loans, investment services, and Primerica financial services. As of December 31, 2008, it operated 7,730 branches. The Institutional Clients Group segment engages in various securities and banking activities comprising investment banking, debt and equity, lending, private equity, hedge funds, real estate, structured products, and managed funds. It also offers transaction services, including cash management services, trade services, custody and fund services, clearing services, agency and trust services, and equity and fixed income research services. The Global Wealth Management segment provides advisory, financial planning, brokerage, and wealth management services. Citi has operations in North America, Latin America, Asia, Europe, the Middle East, and Africa |
| Circuit City | Circuit City was a consumer electronics retailer. It has been liquidated. |
| DHL Express | |
| Steve & Barry's | Steve & Barry's was a retail clothing store that liquidated in 2008. |
| Mervyns | Mervyns was a department store. It closed in 2008. |
| York Capital Management | York Capital Management is an investment advisory and asset management firm. |
| Viacom, Inc. (VIA) | Viacom, Inc. is a global entertainment content company. |
| Du Pont (E.I.) de Nemours & Co (DD) | E. I. du Pont de Nemours and Company (DuPont) operates as a science and technology company in various disciplines, including agriculture, industrial biotechnology, chemistry, biology, materials science, and manufacturing. |
| Avis Rent a Car | Avis Rent a Car is a nationwide car rental business. |
| Avis Budget Group, Inc. (CAR) | Avis Budget Group operates Avis and Budget, two well known names in the global vehicle rental industry. Avis rents premium commercial and leisure segments of the travel industry and Budget rents to the price-conscious segments of the industry. |
| Dow Chemical Company (DOW) | Dow Chemical Company engages in the manufacture and sale of chemicals, plastic materials, agricultural, and other specialized products and services worldwide. Dow Chemical operates in six segments: Performance Plastics, Performance Chemicals, Agricultural Sciences, Basic Plastics, Basic Chemicals, and Hydrocarbons and Energy. |
| Sony Corporation (SNE) | Sony Corporation, together with its subsidiaries, engages in the development, design, manufacture, and sale of electronic equipment, instruments, and devices for consumer and industrial markets in Japan, the United States, Europe, and internationally. |
| Bank of America N.A. (BAC) | Bank of America N.A. is one of the largest banks in the world offering a complete menu of financial services to consumers and businesses worldwide. |