I think that's a reasonable act, but it should be a general act not only for big layoffs. Loosing your job is the same whether you are alone or part of a larger group.
Laws are relative to the society they regulate, but I believe the important thing is to give employees at least a minimum of time to get a new job. I also like the mutual obligation connected to the notice requirements we have in Norway. Also companies needs time to replace people when someone quits.
