After two years of diligent work and negotiations, the Department of Labor recently announced its final rule to adjust overtime rules. Championed by President Obama, the revised rules are projected to impact four million Americans. The significant changes are intended to provide a “meaningful boost to many workers’ wallets, and will go a long way toward realizing President Obama’s commitment to ensuring every worker is compensated fairly for their hard work,” according to the Department of Labor.
Brexit happened. So what now? What are some of the legal implications for American companies doing business in the UK, and the rest of Europe for that matter?
Though it’s difficult to ascertain exactly now, some of the issues come down to what type of provisions were provided for in the agreements between American companies and their European counterparts. Some businesses have included provisions that stipulated certain courses of action should that European nation leave the Union, or if the EU’s structure were to change or dissolve altogether.