Upon making a decision to close or retrench, an employer shall:
(1) immediately notify the employees, the affected employee organizations, the affected local governments, and a newspaper of general circulation in the county where the governmental facility subject to closure or retrenchment is located; and
(2) within 90 days, provide the employees, the affected employee organizations, and the affected local governments with a written impact statement that includes information concerning:
(a) the number of employees affected;
(b) the amount of the affected employees' payroll;
(c) the potential tax losses to local governments and school districts;
(d) the effect on other businesses; and
(e) the reasons for the closure or retrenchment.