News6 mins ago
Impliction of taking over existing business
Hi Posters:
I need to seek some advise regarding to buying a business to run. The current business owner employs a few part times and 2 full time staffs.
My concern is that because some of the staffs may have worked for a long period of time (some over 16 yrs of service) and due to employment laws, do I need to compensate any of these staffs if I decided not to employ them after taking over the business?
I can draw a new contract to employ these staffs when I take over the business?
I need to seek some advise regarding to buying a business to run. The current business owner employs a few part times and 2 full time staffs.
My concern is that because some of the staffs may have worked for a long period of time (some over 16 yrs of service) and due to employment laws, do I need to compensate any of these staffs if I decided not to employ them after taking over the business?
I can draw a new contract to employ these staffs when I take over the business?
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