The meaning of RETRENCHMENT is reduction, curtailment; specifically : a cutting of expenses.
The meaning of retrenchment is to terminate employees or workmen by the employer for economic reasons. This termination of their services is not done as a punishment or disciplinary action but on the ground of surplus labour or the financial position of the business or company.
RETRENCHMENT definition: 1. a situation in which a government, etc. spends less or reduces costs: 2. a situation in which…. Learn more.
Employers who are retrenching any employee must do so responsibly and fairly. Find out the considerations and requirements for retrenchments. Retrenchments are defined as dismissal on the ground of redundancy or by reason of any reorganisation of the employer's profession, business, trade or work.
Redundancy and retrenchment are two terms that are sometimes confused by employers and employees. Redundancy occurs when a specific role is no longer required because of operational changes within a business.
Retrenchment (French: retrenchment, an old form of retranchement, from retrancher, to cut down, cut short) is an act of cutting down or reduction, particularly of public expenditure.
In this article, we provides global investors with a clear and timely overview of retrenchment rules, settlement timelines, and employer compliance obligations under the new regime.
Retrenchment 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 leads to reducing its employees.
Retrenchment is one of those workplace words that can change the mood in a room instantly. It often shows up during tough business periods, mergers, or sudden shifts in how work gets done, and it usually signals that jobs may be at risk. For employees, understanding what retrenchment actually means is not just “HR knowledge.” It affects your income, your career plans, and the decisions you ...