Retrenchment and rightsizing exercise
Retrenchment and rightsizing exercise usually happen when there is an economic downturn or drastic drop in revenue or profit of the business. Retrenchment, though no fault of the employees, will still lead to terminating the services of employees.
However, such exercise must be carried out in a bona fide manner and the reason for retrenchment or rightsizing exercise must be justifiable.
How We Can Help
We can advise on the A-Z on the process of retrenchment and rightsizing exercise suitable to your Company.
Our team will provide you the hands-on advice on the applicable laws and principle of the process and provide comprehensible solutions to problems that may arise during the process.
We are also able to draft/review all relevant letters and related documents to accurately reflect the situation in carrying out this exercise, after reviewing the relevant documentation of the company/employer as instructed.