The law on Social and Solidarity Economy of July 31, 2014 – as specified in a decree of October 28, 2014 - highlighted the employer’s duty of disclosure to his or her staff, as well as the role of employees in running the business in three ways:
- an obligation for companies with less than 250 employees to periodically inform employees of the legal conditions of a company takeover, specifically in relation to the benefits, the challenges, as well as the support mechanisms;
- an obligation for companies with less than 250 employees to individually inform employees of their option to acquire, before any sale of, either the business assets or over 50% of the company shares giving access to the majority of share capital;
- reinforcing the employer’s obligation (established on July 1, 2013, under the uncertain legal outlines of the so-called “Florange" Law) to find an investor before any site closure through the introduction of two sanctions:
- the refusal of any certification request of a social plan by the French Labor administration (Direccte);
- the reimbursement of any public aid that was granted to the employer.