14 September 2017

Reduction in workforce before and during insolvency

In order to avoid insolvency, companies facing financial difficulties often consider a reduction in workforce to reduce personnel costs (i.e., dismissals for economic reasons). If the workforce is reduced significantly, a special mandatory procedure needs to be complied with.

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26 July 2016

Stumbling Block - Mandatory Social Plan

Obligation to set up a Social Plan
When a company gets into financial trouble, it often finds itself forced to reduce staff for cost reasons. In order to mitigate the consequences and to avoid hardship cases, the law provides for a mandatory social plan. However, the employer can also benefit from the social plan. The conclusion of a social plan can help avoid or at least reduce the image loss that can result, particularly in collective redundancies. Further, a social plan can motivate (strategically important) employees to remain in the company, by showing them that the employer is trying to take care of his employees even in financially hard times.

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