Following the collapse of Carillion and other notorious businesses in the last year, we created a series of articles to provide you with guidance on how best to proceed and how staff reductions hopefully can be avoided.
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Tag Archive Carillion CollapseCompulsory RedundanciesConsultationCutting CostsReducing StaffSettlementSettlement Agreements
8
FebHow to avoid Compulsory Redundancies
We wrote recently about how the liquidation of a large company can have potential indirect consequences for small and medium businesses. Through no fault of their own, a small or medium sized business can suddenly find that cash flow is drastically affected.
Often, in those circumstances, the knee jerk reaction is to look at ways to reduce outgoings and one of the simplest ways to do that is to reduce staff. Many small businesses are reporting that following the collapse of Carillion they may have no alternative but to look at making staff redundant.
It is however worth considering that there are ways to avoid making compulsory redundancies, which can sometimes be costly in the short term.
Before you conclude that redundancies are necessary, consider the following options –
Read More17
JanDoes the liquidation of Carillion impact you or your business ?
The last year has seen a number of major businesses collapse, notably Monarch Airlines and now this week, Carillion.
Carillion’s financial troubles were well documented but the fact that the company went straight into a compulsory liquidation, rather than administration, caught some by surprise.