‘Soft Landing’ In The Face Of Retrenchment?

Outplacement: A Corporate ‘Soft Landing’ In The Face Of Retrenchment

In a recent news interview with London based Financial Times newspaper, the Coordinating Minister for the Economy and Minister of Finance, Ngozi Okonjo Iweala hinted that Federal Government may be forced to embark on cost cutting measures like rationalisation of its agencies to reduce its recurrent expenditure if the price of oil continue to fall.

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Layoffs and Downsizing

Every business owner or hiring manager, at some time or another, will eventually be faced with the unpleasant task of terminating an employee.

Down-sizing, outsourcing, job redundancy, whatever the reasons, it’s absolutely critical to your company’s reputation, and hence financial success, that you do things right.

According to USA TODAY 13% of lawsuits against corporations were for wrongful termination, second only to shareholder suits, and the costs –legal fees, business disruption, lost productivity and worse, broken relationships with existing employees and customers – are often staggering.

What to do when you are faced with workforce reductions, especially at C-Suite executive levels?

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