Alternatives to Redundancies - Part 2Posted in : Supplementary Articles ROI on 7 May 2010
In the second part of our Alternatives to Redundancies series, David McCarroll of Ronan Daly Jermyn Solicitors outlines a number of further options that can be considered to try and reduce payroll costs whilst preserving staff numbers in your business:
1. Alteration of Annual Bonuses or Performance Bonuses
The strength of an employee’s entitlement to a bonus will very much depend on how (and if) that bonus is referred to in a contract of employment. The wording is crucial. For example, use of a terms such as “the Company shall pay” or “the Employee shall be entitled to” are far more likely to be interpreted as creating a binding contractual entitlement. Where you have such a binding
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This article is correct at 06/08/2015
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