Search results
Results from the WOW.Com Content Network
Termination of employment. Termination of employment or separation of employment is an employee's departure from a job and the end of an employee's duration with an employer. Termination may be voluntary on the employee's part (resignation), or it may be at the hands of the employer, often in the form of dismissal (firing) or a layoff.
Voluntary redundancy is when an employer asks an employee to agree to terminate their contract, in return for a financial incentive.
A severance package is pay and benefits that employees may be entitled to receive when they leave employment at a company unwilfully. In addition to their remaining regular pay, it may include some of the following: Any additional payment based on months of service. Payment for unused accrued PTO vacation time, holiday pay or sick leave unless ...
Layoff. Not to be confused with Degrowth or Shrinkage. A layoff[ 1 ] or downsizing is the temporary suspension or permanent termination of employment of an employee or, more commonly, a group of employees (collective layoff) [ 2 ] for business reasons, such as personnel management or downsizing (reducing the size of) an organization.
Tata Steel is planning to cut 2,500 posts during the current redundancy period, with a further 300 roles due to close in future. The company has said that the redundancy terms are its best ever ...
For premium support please call: 800-290-4726 more ways to reach us
Constructive dismissal. In employment law, constructive dismissal, also called disguised dismissal, [ 1 ]constructive discharge or constructive termination, occurs when an employee resigns due to the employer creating a hostile work environment. This often serves as a tactic to avoid payment of statutory severance pay and benefits.
Turnover (employment) In human resources, turnover refers to employees who leave an organization. The turnover rate is the percentage of the total workforce who leave over a certain period. [ 1 ] Organizations and wider industries may measure their turnover rate during a fiscal or calendar year. [ 2 ]