Consolidated Manufacturing and employees that it laid off without notice in February have reached a settlement that could end a lawsuit filed against the company.

The proposed $240,000 agreement, which must be approved by a judge, is about half of what employees sought from the company after they were laid off with 30 minutes notice. The employees contended that federal law required the company to give them at least 60 days notice if it planned to lay off 100 or more employees.