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HBI » Topics » We have approximately 49,000 employees worldwide, and our business operations and financial performance could be adversely affected by changes in our relationship with our employees or changes to U.S. or foreign employment regulations.This excerpt taken from the HBI 10-K filed Sep 28, 2006. We have
approximately 49,000 employees worldwide, and our business
operations and financial performance could be adversely affected
by changes in our relationship with our employees or changes to
U.S. or foreign employment regulations.
We have approximately 49,000 employees worldwide. This means we
have a significant exposure to changes in domestic and foreign
laws governing our relationships with our employees, including
wage and hour laws and regulations, fair labor standards,
minimum wage requirements, overtime pay, unemployment tax rates,
workers’ compensation rates, citizenship requirements and
payroll taxes, which likely would have a direct impact on our
operating costs. We have approximately 35,000 employees outside
of the United States. A significant increase in minimum
wage or overtime rates in such countries could have a
significant impact on our operating costs and may require that
we relocate those operations or take other steps to mitigate
such increases, all of which may cause us to incur additional
costs, expend resources responding to such increases and lower
our margins.
In addition, some of our employees are members of labor
organizations or are covered by collective bargaining
agreements. If there were a significant increase in the number
of our employees who are members of labor organizations or
become parties to collective bargaining agreements, we would
become vulnerable to a strike, work stoppage or other labor
action by these employees that could have an adverse effect on
our business.
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