Compensation for workers adversely affected by corporate restructuring: pension rights, the law and public policy

The costs of restructuring to corporations can be enormous. So too can be the costs of restructuring for workers and communities, layoffs, plant closings, and long-term unemployment are often the consequences of restructuring. Normally, those adversely affected by restructuring are not due any compe...

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主要作者: Clark, G
其他作者: Regional Studies Association
格式: Journal article
语言:English
出版: Routledge 1993
主题:
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author Clark, G
author2 Regional Studies Association
author_facet Regional Studies Association
Clark, G
author_sort Clark, G
collection OXFORD
description The costs of restructuring to corporations can be enormous. So too can be the costs of restructuring for workers and communities, layoffs, plant closings, and long-term unemployment are often the consequences of restructuring. Normally, those adversely affected by restructuring are not due any compensation other than short-term unemployment benefits. But in instances where corporations have illegally sought to shift the costs of restructuring to workers by selectively denying them their pension and benefit rights, US federal courts have held that compensation is possible. The question is, however, what is appropriate compensation, given legal entitlements and abstract theoretical notions of just compensation? This question is explored with reference to case studies of corporate restructuring in the US that have involved identified violations of the Employee Retirement Income Security Act of 1974. In this context, it is argued that current remedies and recipes for compensation are wholly inadequate when justice is delayed. After working through a series of different recipes for compensation, the paper closes with an analysis of the associated problems of enforcement and the protection of workers' pension rights.
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spelling oxford-uuid:358eb0a5-1d9b-4d29-8d05-7fa272a5a67a2022-03-26T13:32:36ZCompensation for workers adversely affected by corporate restructuring: pension rights, the law and public policyJournal articlehttp://purl.org/coar/resource_type/c_dcae04bcuuid:358eb0a5-1d9b-4d29-8d05-7fa272a5a67aEmploymentPensionsGeographyPublic policyEnglishOxford University Research Archive - ValetRoutledge1993Clark, GRegional Studies AssociationThe costs of restructuring to corporations can be enormous. So too can be the costs of restructuring for workers and communities, layoffs, plant closings, and long-term unemployment are often the consequences of restructuring. Normally, those adversely affected by restructuring are not due any compensation other than short-term unemployment benefits. But in instances where corporations have illegally sought to shift the costs of restructuring to workers by selectively denying them their pension and benefit rights, US federal courts have held that compensation is possible. The question is, however, what is appropriate compensation, given legal entitlements and abstract theoretical notions of just compensation? This question is explored with reference to case studies of corporate restructuring in the US that have involved identified violations of the Employee Retirement Income Security Act of 1974. In this context, it is argued that current remedies and recipes for compensation are wholly inadequate when justice is delayed. After working through a series of different recipes for compensation, the paper closes with an analysis of the associated problems of enforcement and the protection of workers' pension rights.
spellingShingle Employment
Pensions
Geography
Public policy
Clark, G
Compensation for workers adversely affected by corporate restructuring: pension rights, the law and public policy
title Compensation for workers adversely affected by corporate restructuring: pension rights, the law and public policy
title_full Compensation for workers adversely affected by corporate restructuring: pension rights, the law and public policy
title_fullStr Compensation for workers adversely affected by corporate restructuring: pension rights, the law and public policy
title_full_unstemmed Compensation for workers adversely affected by corporate restructuring: pension rights, the law and public policy
title_short Compensation for workers adversely affected by corporate restructuring: pension rights, the law and public policy
title_sort compensation for workers adversely affected by corporate restructuring pension rights the law and public policy
topic Employment
Pensions
Geography
Public policy
work_keys_str_mv AT clarkg compensationforworkersadverselyaffectedbycorporaterestructuringpensionrightsthelawandpublicpolicy