As large companies across the globe continue to navigate the ongoing COVID-19 pandemic, many are considering workforce reorganizations as a way to reduce costs in light of geopolitical and economic uncertainties, flagging demand, and a rapidly changing outlook for recovery.
Workforce reorganizations can take many forms; however, many companies will consider global involuntary separation programs or reductions in force (“RIFs”) / redundancies if initial job retention efforts or cost-saving measures such as voluntary separation programs have not proved sufficient to protect or re-size the business for anticipated future needs.
This alert highlights critical distinctions between international and U.S. RIF requirements and addresses:
- Employee Consultation, Consents, and Timing Issues
- Termination Rights
- Severance Payments
- Employee Benefits
- Release Agreements and Waivers
- Communications and Disclosures