News
June 2020
Restructuring in a COVID World - What You Need To Know
Key Themes
- Current upswing in revenue attributed to pent up demand from Level 4.
- June quarter GDP could be down 19% - so decline in discretionary spending expected.
- Employer has a right to restructure - financial losses not a pre-requisite.
- Comprehensive written proposal is essential to communicate and justify the plan.
- Consultation period can be short – the quality of engagement is important, not the duration.
- Feedback is huge - affected employees want to retain jobs because few other opportunities.
- Predetermination an issue – but final decision does not have to be different from the proposal.