Fantase Corporation Has a Union Contract

question 84

Essay

Fantase Corporation has a union contract.To avoid the contract,the shareholders plan to form a new corporation.They also elect to transfer their business interest to the new corporation.Is the new corporation liable to the employees for the union contract?

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Definitions:

Workforce Rightsizing

The process of adjusting the size of a company's workforce to match its current needs.

Infrastructure Costs

Expenses associated with the basic physical and organizational structures needed for the operation of a society or enterprise, such as roads, utilities, and buildings.

Fixed Assets

Long-term tangible assets held by an organization for producing goods or services, not expected to be converted to cash in the short term.

Contingent Workforce

A labor pool consisting of individuals hired by an organization on a non-permanent basis, such as freelancers, contractors, or temporary workers.