16. Regarding early retirement incentives, all of the following are true EXCEPT:
a. early retirement incentives are discriminatory if based on age
b. early retirement incentives may be offered to employees above a certain age, for
example, age 55, but not, for example, also to those between 40 and 45
c. early retirement incentives are a legal way to reduce the workforce
d. early retirement incentive may be used to reduce the number of highly-paid
employees
17. Regarding the bankruptcy filing of an employer, which of the following statements is
NOT true?
a. employees are secured creditors
b. employees are unsecured creditors
c. employees as creditors stand high in priority in a Chapter 11 bankruptcy filing
d. none of these is true
18. With regard to unemployment insurance, which of the following statements is true?
a. only workers who have been fired are eligible for unemployment insurance
b. only workers who quit are eligible for unemployment insurance
c. only workers who are involuntarily terminated are eligible for unemployment
insurance
d. employers should routinely context all claims for unemployment insurance
19. Because of the worsening economic situation, your firm needs to drastically cut back, and
downsize up to 40% of its workers. The firm has a reputation and tradition of being a
firm that rewards the good skills and loyalty of its workers, and many have been with
your firm for more than 30 years. The firm has been in your family for more than 100
years, and you are the 3rd generation CEO. Frankly, what would help the most is to lay
off all of those workers who are earning in excess of $80,000/year, retaining those who
are earning between $40,000 and $50,000/year. That would reduce your overhead
dramatically (and your health insurance costs). But almost all of the workers who earn in
excess of $80,000 are age 50 or over, and unlikely to ever find comparable jobs
elsewhere. Which of the following options would be consistent with your firm’s core
values and its long-term survival?
a. downsize all workers making in excess of $80,000/year; since salary is the only
consideration, the action is legal
b. offer significant early retirement packages in exchange for a waiver of claims to
workers earning in excess of $80,000/year; it may cost you in the short term, but
it is consistent with your family’s legacy and the firm’s core values, and
ultimately will help the firm’s long-term survival
c. do a targeted review of the skill sets of all employees, including those earning less
than $80,000/year, to determine where there is an overlap and you can afford to