To retrench

Author: athl

August undefined, 2024

WebBritannica Dictionary definition of RETRENCH [no object] formal : to change the way things are done in order to spend less money When the economy slowed, the company was … WebFeb 2, 2024 · Retrenchment is when there are losses in the operation of the business. Another important distinction is that the separation pay awarded to employees is different. Separation pay for redundancy is equivalent to the employee’s one-month pay for every year of service, a fraction of at least six (6) months being considered as one whole year.

RETRENCH English meaning - Cambridge Dictionary

WebSome common synonyms of retrench are abbreviate, abridge, curtail, and shorten. While all these words mean "to reduce in extent," retrench suggests a reduction in extent or costs … WebDec 19, 2016 · Retrenchment is the action taken to terminate the employment relationship in the event of redundancy. In what situation can a company retrench an employee? Companies are generally at liberty to organize their business enterprise in a manner that best achieves their objective of maximizing profit, so long as the exercise is bona fide. get the seat

Your Evening Briefing: Shadow Lenders Move in as Banks Retrench

Webretrenches shaves shortens slashes trims diminish verbbecome or cause to be less abate abbreviate attenuate become smaller close contract curtail cut decline decrease depreciate die out drain dwindle ebb extenuate fade away lessen lower minify moderate peter out recede reduce retrench shrink shrivel slacken subside taper temper wane WebMar 23, 2024 · Accenture to retrench 19,000 positions globally. Global IT services and consulting major Accenture has announced that it will lay off 2.5% or 19,000 of its employees over the next 18 months. Over ... WebJun 4, 2024 · KUALA LUMPUR, June 4 — Low-cost carrier AirAsia Group Bhd is expected to retrench over 250 staff and personnel amid its efforts to downsize operations, Astro Awani reported today, quoting anonymous sources. It reported that those expected to be laid off include 111 cabin crew members out of 1,900 existing ones, 172 pilots, and 50 engineers. christophe bayon de noyer

Retrench definition and meaning Collins English Dictionary

Retrenching - definition of retrenching by The Free Dictionary

Webto cut down, reduce, or diminish; curtail (expenses). to cut off or remove. Military. to protect by a retrenchment. verb (used without object) to economize; reduce expenses: They … WebRetrenchment is a form of dismissal due to no fault of the employee, it is a process whereby the employer reviews its business needs in order to increase profits or limit losses, which … christophe bazardWebDefinition of Retrenchment is terminating an employee due to the surplus of labor or incapacity of employees to match the performance standards of the company. The Industrial Dispute Act, 1947 deals with employment-related disputes in India and Section 2 (oo) of the Act states that ‘retrenchment means termination of service of a workman by … christophe bazot

"Webretrench verb uk / rɪˈtrentʃ / us / rɪˈtrentʃ / [ I ] formal If governments, companies, etc. retrench, they start spending less money, or reducing costs: The company had to retrench … " - To retrench

To retrench

Retrench - Definition, Meaning & Synonyms

Webto remove a worker from his or her job as a way of reducing costs: The government is to retrench 30,000 public servants in the next three years. An employee you retrenched may … WebDefinition of Retrenchment is terminating an employee due to the surplus of labor or incapacity of employees to match the performance standards of the company. The …

Did you know?

WebApr 6, 2024 · Explain the organisation’s efforts to manage business challenges, and the business situation faced by the company resulting in the need for a retrenchment exercise. Outline how the retrenchment exercise will be conducted. Elaborate on the factors that will be considered. Specify the assistance being offered to those affected. WebJun 7, 2024 · 7 June 2024. PROSPERITY Africa Holdings is set to retrench its employees working at the E-Med Rescue 24’s call centres countrywide. The company made this …

WebFeb 23, 2024 · Retrenchment is the process whereby an employer terminates a contract of employment with an employee on the basis of the employer’s “operational requirements”. What does Operational Requirements Mean? Operational requirement are defined as requirements based on the economic, technological, structural or similar needs of the … WebThe Azimio La Umoja One Kenya Coalition has vehemently opposed the move by the government to retrench public servants as a mechanism to reduce the huge wage bill.The Raila Odinga-led coalition has ...

WebJul 6, 2024 · Employers may consider alternatives to retrenchment which could include: temporary remote working arrangements; special leave if the employer is able to grant … WebWhen times are tight, it's time to retrench. That means rethink your budget, cut back on the spending, and use your pennies wisely. Usually when you have to retrench, it's not a good …

Web1 day ago · Shadow lenders are circling commercial real estate, a large asset class that traditional banks and the bond market are increasingly avoiding, potentially forcing …

WebThe employer serves written notices both to the employees and the DOLE at least one month prior to the intended date of retrenchment; 3. The employer pays the retrenched employees separation pay equivalent to one month pay or at least ½ month pay for every year of service, whichever is higher; 4. The employer must use fair and reasonable ... christophe bazin ffcWebFeb 23, 2024 · Retrenchment is the process whereby an employer terminates a contract of employment with an employee on the basis of the employer’s “operational requirements”. get the secondWebAntonyms for retrench include add, develop, enlarge, expand, extend, fix, free, grow, include and increase. Find more opposite words at wordhippo.com! christophe beaud julboWebDec 20, 2007 · Retrenchment Letter. snehanil. 1. Dear all, Kindly help or send me the format of Retrenchment Letter. For the staff member who complete his probation period, but management does not want to continue his service. Regards. 20th December 2007 From India, Pune. Add Reply → Start New →. PROFESSIONALS AND BUSINESSES … christophe bazinWebJun 23, 2024 · The parties also agreed to retrench employees on limited duration contracts. The only matter relevant to the consultation process was the amendments of the job descriptions. christophe beaudouin cnafWeb1 day ago · Shadow lenders are circling commercial real estate, a large asset class that traditional banks and the bond market are increasingly avoiding, potentially forcing borrowers to pay a lot more ... christophe beaudoin coraWebContext examples . They must retrench; that did not admit of a doubt. (Persuasion, by Jane Austen) I know I cannot live as I have done, but I must retrench where I can, and learn to … get these blues off me