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Ortoli | Rosenstadt: What Exactly Is a Seller Responsible for When Selling Its Staffing Firm?
Buyers of a business generally expect sellers to be responsible for certain liabilities relating to when the seller owned its business—a concept mergers and acquisitions professionals refer to as indemnification. Indemnification is one of the most heavily negotiated, and potentially most significant, provisions of a purchase agreement, and understanding the terminology common to such agreements is essential when negotiating a deal. Attorney Paul Pincus of Ortoli Rosenstadt LLP explains what sellers are liable for, how a seller’s liability may be limited, and how buyers may seek to fund potential indemnity claims.
Covid-19: State Policy Report, March 10
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New York State Mandates Employers Provide Their Employees With Paid Leave for Covid-19 Vaccinations
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More States Enact Covid-19 Immunity Laws for Businesses
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Covid-19: State Policy Report, March 9
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EEOC Charlotte District Office to Host Seminar on Covid-19 Issues in Equal Employment Opportunity
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Updated Guidance From California’s DFEH at the One Year Mark of the Pandemic
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Covid-19: State Policy Report, March 6-8
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Majority of Workers Want to Return to the Office and Want Covid-19 Protocols Enforced
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Staffing Employment Begins Recovering From Pandemic
Following the near record highs posted in 2019, full-year 2020 data released today by the American Staffing Association show how the coronavirus pandemic challenged providers of workforce solutions, with temporary and contract staffing jobs falling to Great Recession levels in the second quarter yet rebounding in the second half of the year.
Staffing employment plummeted by 33.6%—more than one million jobs—year-to-year in the second quarter of 2020, as the nation was shut down by the Covid-19 pandemic.
Despite the pandemic, staffing companies hired a total of 13.6 million temporary and contract employees during all of 2020, with an average length of employment with a staffing agency at 9.6 weeks.
“While the pandemic took its toll on the economy in 2020, many staffing companies are reporting continued increases in demand for temporary and contract workers in the first quarter of 2021,” said Richard Wahlquist, ASA president and chief executive officer. “Workplace disruption caused by the Covid-19 pandemic has put an even higher premium on the need for more flexible and inclusive workforce solutions.”
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