Employment and contract law in Louisiana is a common occurrence among companies and employees. Companies are ever-changing in our global society and mass layoffs, although unfortunate, do occur.
Recently, layoffs were announced at Albemarle, a Baton Rouge chemical company. Due to slumping sales, the company is creating a global restructuring plan, which is resulting in a reorganization of its employment structure. This will include a reduction in its workforce through voluntary separation and layoffs. The company’s production of fire resistant products appears to have declined. Although the total number of layoffs in Baton Rouge is unclear, sources have indicated that it may be more than 200. The communications manager at Albemarle did say that she expects to add jobs in areas to support business growth, including R&D and sales.
The company moved its headquarters from Richmond, VA to Baton Rouge in 2008 in a cooperative endeavor agreement in which they received $4.2 million in state and local subsidies through. The company believes it will still be within the CEA because they still will maintain a payroll of more than $50 million and it expects to be adding positions in other areas.
Employment law and contracts are a common occurrence across Louisiana. Because businesses must be constantly evolving in order to not only stay afloat, but to thrive, as well, restructuring is a common occurrence. A legal professional skilled in business and commercial law can help a business with all of its legal needs, including employment contracts. Knowing their legal rights in employment issues is important for businesses.
Source: The Times-Picayune, “Restructuring at Baton Rouge-based Albemarle results in a large number of local layoffs and ‘voluntary separations’,” Lauren McGaughy, Nov. 22, 2013