retrenchment procedure

  • Retrenchment

    In this day and age and in the light of very difficult economic realities in the RSA, a lot of employees have to be aware that companies are struggling financially.

    Even large blue chip companies are being effected and have to constantly plan ahead in order to retain a competitive edge over their competition.
    Just this last week, Standard Bank has announced that it intends to close 91 branches and that this will affect about 1200 employees. A short while ago,

    Absa announced a restructuring plan which will result in the possible retrenchment of about 800 employees.
    I was recently asked to do a piece on retrenchment. 

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