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Voluntary redundancy is when an employer asks an employee to agree to terminate their contract, in return for a financial incentive. Voluntary redundancy is when an employer asks an employee to ...
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 ...
A voluntary redundancy programme is not always driven by short term revenue goals. It can also be motivated by the strategic choice to change the age structure within the company. According to research, [ citation needed ] people who accept voluntary redundancy may at times return to the company after changes in the company's prospects ...
A golden handshake is a clause in an executive employment contract that provides the executive with a significant severance package in the case that the executive loses their job through firing, restructuring, or even scheduled retirement. [1]
Tata asked staff to express interest in taking voluntary redundancy as part of a cut of 2,800 jobs. Skip to main content. 24/7 Help. For premium support please call: 800-290-4726 ...
A BP spokesman confirmed the voluntary redundancy figure. BP is set to make around 7,500 compulsory redundancies after roughly 2,500 staff - or just over one in ten of those eligible - applied for ...
Severance pay in Luxembourg upon termination of a work contract becomes due after five years' service with a single employer, provided the employee is not entitled to an old-age pension and the termination is due to redundancy, unfair dismissal, or covered in a collective labor agreement. [32]
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