Layoffs Likely To Spark Legal Wrangles

Law360, New York (October 1, 2008, 12:00 AM EDT) -- With the financial crisis prompting dire predictions of mass layoffs on Wall Street, companies and employees are bracing themselves not only for the possibility of pink slips, but also the legal battles that are likely to follow.

Wall Street was already under strain even before turbulence in the subprime mortgage market became a storm threatening the stability of the U.S. financial system. The financial sector has racked up the highest number of job cuts so far this year, more than 110,000, according to a report released...
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