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A less severe form of involuntary termination is often referred to as a layoff (also redundancy or being made redundant in British English). A layoff is usually not strictly related to personal performance but instead due to economic cycles or the company's need to restructure itself, the firm itself going out of business, or a change in the function of the employer (for example, a certain ...
Chapter 11 of the United States Bankruptcy Code (Title 11 of the United States Code) permits reorganization under the bankruptcy laws of the United States. Such reorganization, known as Chapter 11 bankruptcy, is available to every business, whether organized as a corporation, partnership or sole proprietorship, and to individuals, although it is most prominently used by corporate entities. [1]
The Fair Entitlements Guarantee is an Australian legislative scheme under which employees may receive financial assistance to cover certain specified employment entitlements where an employee loses their job due to the bankruptcy or liquidation of their employer and their employer does not have sufficient cash or assets to cover the entitlements.
Severance packages are often negotiable, and employees can hire a lawyer to review the package (typically for a fee), and potentially negotiate. However, employees are never entitled to any severance package upon termination or lay-offs. [3] Severance packages vary by country depending on government regulation.
Alitalia will lay off over 2,000 remaining employees as liquidation nears November 10, 2024 at 11:50 AM FILE - In this photo taken on Sunday, May 5, 2019, an Alitalia plane takes off from Sofia ...
Alitalia will lay off over 2,000 remaining employees as liquidation nears. November 10, 2024 at 12:21 PM. ROME (AP) — Italy’s former national carrier Alitalia has started procedures for the ...
Originally, bankruptcy in the United States, as nearly all matters directly concerning individual citizens, was a subject of state law. However, there were several short-lived federal bankruptcy laws before the Act of 1898: the Bankruptcy Act of 1800, [3] which was repealed in 1803; the Act of 1841, [4] which was repealed in 1843; and the Act of 1867, [5] which was amended in 1874 [6] and ...
A common mistake is to assume that constructive dismissal is exactly the same as unfair treatment of an employee – it can sometimes be that treatment that can be considered generally evenhanded nevertheless makes life so difficult that the employee is in essence forced to resign [11] (e.g., a fair constructive dismissal might be a unilateral ...