Retrenchment Process and Procedure | QuickLaw Guide - LegalWise Retrenchment is a form of dismissal due to no fault of the employee, it is a process whereby the employer reviews its business needs in order to increase profits or limit losses, which leads to reducing its employees
What is a Retrenchment strategy: Explained with types examples Retrenchment is a corporate-level strategy that involves reducing the size, scope, or diversity of a company’s operations Retrenchment aims to improve the company’s financial performance by cutting costs, streamlining operations, and focusing on core business activities
Retrenchment : Meaning, Definition and Requirements of valid retrenchment Retrenchment means termination of service of a workman by the employer by any reason but other than punishment or disciplinary action In simple words, if an employer discharges or removes any workman or staff member on the ground of surplus labor or staff, but not as a disciplinary action it is called retrenchment
What is Retrenchment? Meaning and Definition - HR Glossary - Pocket HRMS Retrenchment is a process of reducing employees by terminating them from the workforce Organizations often have to take this decision due to following reasons like business downturns, restructuring, or the need to reduce costs
Retrenchment: Definition, Causes HR Best Practices - peoplehum 1 What is retrenchment compensation? Retrenchment compensation is the money paid to workers when they lose their jobs because the company is reducing its workforce It helps the employees manage their expenses until they find a new job 2 What is retrenchment in labour law?
What is Retrenchment? | Definition Meaning - factohr. com Retrenchment is the process of organizations laying off employees to save money, improve efficiency, or due to unfavorable market conditions It's a permanent termination of employment, unlike temporary layoffs, and leads to long-term changes in human capital
Retrenchment: Legal Process and Key Considerations Retrenchment refers to the process of reducing a company's workforce due to financial pressures, restructuring, or operational downsizing It’s not a reflection of an employee's performance but rather a decision driven by the company’s need to cut costs or adapt to changing market conditions
Retrenchment in Labour Law - LawBhoomi In essence, retrenchment in Labour Law refers to the termination of an employee’s service for reasons such as company restructuring, downsising, economic challenges, technological advancements or discontinuation of a specific department or unit, among others