Multinational companies must constantly transform their business operations to compete on the world market and meet their strategic business objectives.
EY has developed a free online guide focusing on matters of key strategic importance for multinational companies on a country-by-country basis. More than 30 countries are covered.
The guide allows easy access to significant issues and hurdles that may be encountered around the world, providing practical answers to enable companies to anticipate and mitigate potential risks and show stoppers.
Bulgaria’s key aspects are:
The key practical issues in workforce restructuring include:
- Legal justification
- Works council and employee representatives’ process
- Labor administration process
- Costs and timing
- Litigation risk
HR legal mergers & acquisitions
The key aspects to HR legal matters in an M&A include:
- Due diligence
- Consultation process
- Employee transfer issues
- The asset purchase agreement (APA)/share purchase agreement (SPA)
HR post-merger integration (PMI)
The importance of post-merger integration (PMI) is often underestimated; yet its successful and timely execution is key to enhancing the return on investment on a deal. Transfer of employees, harmonization of terms and conditions of employment, union or works council negotiation and litigation risk are key aspects of PMI.
The increasing use of a contingent workforce raises complex HR labor law issues and may expose companies to financial, criminal and reputational risks. Awareness of these risks is key to confirm that the appropriate compliance tools are put in place in order to avoid unexpected liabilities and costs.
For other featured countries, please visit this link.
Primary Contact for Bulgaria Labor and Employment Law – Ms. Tanya Stivasareva, Ernst & Young Law Partnership, +35928177313