Closing a plant is often a difficult but necessary decision for
any business. The consequences can be personally painful for
employees, and expensive and disruptive for your business. To
minimize negative consequences, consider these five essential
factors.
1. Assemble a team
Closing a plant can be a demanding and complex project. Once a
decision is made and communicated, events can quickly outpace
planning. To manage the process effectively, you should start by
assembling a team of internal managers and external advisors.
2. Assess employee entitlements
A key priority will be to ensure the effective termination of
employees by reviewing each employee's entitlement to notice of
termination or payment instead of notice and the possibility of
severance pay.
