Final answer:
The statement is false. Employers with more than 100 employees must give written notice 60 days prior to plant closings or large layoffs as per the Worker Adjustment and Retraining Notification Act (WARN), not 500 employees as stated, nor 30 days' notice.
Step-by-step explanation:
The statement given in the question is false. According to the Worker Adjustment and Retraining Notification Act (WARN), employers with 100 or more employees are required to provide written notice 60 days before plant closings or large layoffs. This act is designed to give workers sufficient time to prepare for the transition and seek other employment or training opportunities. It's important to make a note that it's not 500 employees as mentioned in the statement, but rather more than 100 employees that triggers the requirement for advance notice.
Comparatively, in many European countries, laws enforce even longer notification periods and may require generous severance packages which can act as both a protection for employees and, potentially, a deterrent for employers from rapid hiring and firing. They can face additional costs when making such decisions, being required in some cases to provide more than three months of notice and significant severance or retraining packages to laid-off workers.