Flat 20 year ban would be simpler to implement.
And structurally advantageous to incumbent firms with access to easy capital with which to ride downturns.
Which they?
Hell, if this law passed I’d bet there would be opportunity for PE to buy the assets off a company that has done a layoff, fold the original company, and reboot it. Being locked out of 95% of the world population for twenty years is a real competitive disadvantage.