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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 ...
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 ...
While these offers are considered voluntary — meaning the employee does not have to accept the offer (perhaps thinking a better offer will come later) — the offer should be carefully considered.
VRIF – Voluntary reduction in force – The employee(s) did play a role in choosing to leave the company, most likely through resignation or retirement. In some instances, a company may exert pressure on an employee to make this choice, perhaps by implying that a layoff or termination would otherwise be imminent, or by offering an attractive ...
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 ...
Labour’s deputy leader said the party’s plan for workers is ‘the minimum’ they could expect after working through the pandemic.
It caps the redundancy payouts to civil servants at 15 months' salary. Initially the proposal was for a maximum of 12 months' salary. This was raised during the passage of the Bill to 15 months in the case of voluntary redundancy. It was introduced in the House of Commons on 15 July 2010, and received its third reading there on 13 October. The ...