Out with the old and in with the new financial year.
Whilst it is an exciting time for businesses as they communicate
updated financial budgets, promotions and salary increases, in the
present challenging economic times, there is no doubt some
businesses may be dealing with the reality of poor financial
performance. The changes in customer/client demands, operational
requirements etc. necessitating business restructure may bring
about the need to make redundancies.
To avoid the pitfalls of poorly planned and executed
redundancies, companies need to understand its employer obligations
and have a robust plan in place to avoid the steep costs of getting
it wrong, including legal, financial and cultural risk.
