Managing redundancy

Article Abstract:

A decline in redundancies was found in a survey of 50 British employers, covering more than 250,000 workers. In the previous two years, employees had been made redundant by 80% of the organizations, compared to nearly 90% when the survey was conducted in 1992. Trade unions are recognized by 72% of the companies surveyed, with 50% having an agreement on redundancy procedures. All but four of the employers use a combination of criteria for selection of employees to be made redundant. Natural attrition, voluntary redundancy, redeployment and early retirement are the main methods employed. Severance payments and legal issues are also discussed.

Layoffs, Employee dismissals, Employment terminations, Employment at will

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Redundancy and employee's request

Article Abstract:

UK companies surveyed report an increase in voluntary and involuntary early retirement due to redundancy and in early retirement at the employee's request. Most of the organizations that have minimum age requirements require retirees to be 50 or older, and most reduce pensions paid early in at least some cases. Employee-requested retirement benefits are usually less generous than in redundancy situations. About 40% of the 50 organizations surveyed changed their early retirement provisions in the past five years.

Surveys, Early retirement

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A share in the firm: Tullis Russell is using its award-winning share schemes to give employees a majority stake in the organisation

Article Abstract:

British papermaking company Tullis Russell has won awards for its innovative and thorough employee share arrangements, first launched a decade ago when it was a family-owned firm. The most recent scheme will ultimately vest employees with 75% of the firm's share capital via allocations, purchases, and the Employee Benefit Trust. Employees participate in developing and managing these plans through the share council, and the company has several programs designed to communicate effectively with its employee/owners.

Compensation and benefits, Employee stock ownership plans, Tullis Russell and Company Ltd.

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