Retrenchment: seven things an employee ought to know 06 may 2009brian patterson, deneys reitz the credit crunch and the. Retrenchment notification december 2, 2012 mr john smith designation address line-1 address line-1 sub: retrenchment from the service dear sir, you have been a valuable employee to this organization since long your service has been up to the level of our expectations in spite of that we are sorry to inform you that your. During a contemplated retrenchment exercise, an employer has a legal obligation to consult with parties that might be affected by the retrenchment based on. Retrenchment doesn't always mean people losing jobs, although it can seem that way if a company shifts into concentrating on a different focus, that's also called retrenching. Examples of retrenchment strategy • general motors of the united states stopped producing a number of makes of automobile gm decided that it needed to retrench by concentrating on just a few makes it hoped this would help it return to profitability. Retrenchment means lay off of employees from the company on account of many reasons like, company going in debt or company's need to cut down the payroll, etc the compensation given at that time to the employees for firing of them without any notice is called retrenchment compensation. Retrenchment notification december 2, 2012 mr john smith designation address line-1 address line-1 sub: retrenchment from the service dear sir, you have been a valuable employee to this organization since long.
Business strategy - retrenchment 1 retrenchment 2 what is retrenchment“to cut down or reduce something” “tighten ones belt” “use resources more carefully. How to retrench staff on october 28, 2010 in management you may be forced to let employees go as the economy slows your business magazine looks. In other words, the strategy followed, when a firm decides to eliminate its activities through a considerable reduction in its business operations, in the perspective of customer groups, customer functions and technology alternatives, either individually or collectively is called as retrenchment strategy. This form is a sample letter in word format covering the subject matter of the title of the form sample letter for retrenchment letter sample letter for.
Retrenchment strategy • retrenchment involve total or partial withdrawal from a customer group, customer function or use of an alternative technology • ex- a. Make sure you understand your retrenchment offer september 20, 2012 maya fisher-french after working for his company for 24. Definition of retrenchment in english: retrenchment noun mass noun 1 the reduction of costs or spending in response to economic difficulty ‘this period of. In the latest examples of retrenchment in the economy of the online world, standard international, the company that publishes the weekly magazine about the internet economy, the industry standard, has announced that it will cut about 7 percent of its work force and the new york times company sold almost all of its stake in.
Advantages of retrenchment include reduced costs, improved efficiency, improved competitiveness and reduced reliance on the markets retrenchment increases profits for shareholders and creates a strategy to survive economic downturn the disadvantages of retrenchment include growth decline, reduced. Retrenchment is defined as cutting back or a reduction an example of retrenchment is a company laying off employees to get back within budget. Retrenchment can benefit company only when the company is overstaffed, or when it is implementing any other program, which involves substantial reduction in manpower requirement of course it is assumed the the basic strategy or objective that give rise to need of retrenchment must also be right for the retrenchment to benefit the company.
He turnaround strategy is a retrenchment strategy followed by an organization when it feels that the decision made earlier is wrong and needs to be undone before it damages the profitability of the company. Sample retrenchment letter by dwd_za » 19 jan 2012, 21:05 for now, though, i for now, though, i am looking for a sample / template of notice to retrench. Retrenchment guideline | cliffedekkerhofmeyrcom facilitation versus non-facilitation how can the intervention of a facilitator be secured there are three ways in which the intervention of a facilitator may. Retrenchment buss4 examples 35 / 5 hide show resource information business studies a2/a-level aqa created by: amy bird created on: 15-06-13 13:18 view.
How to use retrenchment in a sentence example sentences with the word retrenchment retrenchment example sentences. Examples from the web for retrenchment expand contemporary examples the washington post, after a difficult four-year retrenchment. The total retrenchment payments, if applicable will include: a) notice period pay b) accrued leave pay c) severance pay (1 week / completed year) 7 other assistance: the company will make every effort to assist you, if necessary, by the following: 1 you will not have to work out your full notice period, if not required.
Retrenchment strategy definition + create new flashcard popular terms a strategy used by corporations to reduce the diversity or the overall size of the operations. Directional strategies in the development of strategy for a healthcare organization by shari parsons miller choose a directional strategy that will help you achieve. Retrenchment thesaurus definitions of retrenchment 1 n the reduction of expenditures in order to become financially stable. For example, a retailer that suffered a loss on its business may find no one interested in buying the company as a going concern to extract as much value out of the. Examples of retrenchment unlawful dismissal or retrenchment is where the workman whose service has been terminated feels he has been dismissed without just cause.