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Reducing a company’s workforce by eliminating positionsRetrenchment is a process of reducing a company’s workforce by eliminating positions12. It can be done through voluntary buyouts, layoffs, or a combination of both1. The goal of retrenchment is to reduce costs and make the company more efficient1. Retrenchment can also refer to a situation in which a government or other entity spends less or reduces costs34.Learn more:✕This summary was generated using AI based on multiple online sources. To view the original source information, use the "Learn more" links.Retrenchment is the process of reducing a company’s workforce by eliminating positions. This can be done through voluntary buyouts, layoffs, or a combination of both. The goal of retrenchment is to reduce costs and make the company more efficient.hrsoftware.in/blog/what-is-retrenchment/Retrenchment is a process of reducing employees by terminating them from the workforce. Organizations often have to take this decision due to following reasons like business downturns, restructuring, or the need to reduce costs.www.pockethrms.com/hr-terms/retrenchment/retrenchment noun [ C or U ] uk / rɪˈtrentʃ.mənt / us / rɪˈtrentʃ.mənt / Add to word list a situation in which a government, etc. spends less or reduces costs:dictionary.cambridge.org/dictionary/english/retrenc…The meaning of RETRENCHMENT is reduction, curtailment; specifically : a cutting of expenses.www.merriam-webster.com/dictionary/retrenchment- People also ask
- nounretrenchment (noun) · retrenchments (plural noun)
- the reduction of costs or spending in response to economic difficulty:"this period of retrenchment will see companies shed staff" · "closures and retrenchments have become the order of the day"
- AUSTRALIAN ENGLISHSOUTH AFRICAN ENGLISHthe action of dismissing an employee from a job:"he ordered the retrenchment of 420 civil servants"
- formalreduction in the extent or quantity of something:"the retrenchment of the welfare state"
Retrenchment Definition & Meaning - Merriam-Webster
WebThe meaning of RETRENCHMENT is reduction, curtailment; specifically : a cutting of expenses.
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A Definitive Guide to Retrenchment Strategy (With Examples)
- Turnaround
Organizations adopt a turnaround strategy when they realize they aren't generating profit in their markets. It involves management looking through the details of the organization and determining reasons for low performance in specific markets. Once the organization finds reasons for the lo… - Divestment
A divestment strategy is when an organization that owns many assets, departments and product divisions determines that one or more of those aren't profitable and choose to sell them. You can analyze your organization's components and determine which ones no longer generate profit an…
- Turnaround
What is a Retrenchment strategy: Explained with types & examples
WebRetrenchment is a corporate-level strategy that involves reducing the size, scope, or diversity of a company’s operations. Retrenchment aims to improve the company’s financial performance by cutting costs, streamlining operations, and …
Retrenchment Process and Procedure | QuickLaw Guide
- What is retrenchment? Retrenchment is a form of dismissal due to no fault of the employee, …
- When may employees be retrenched? An employer may retrench employees for …
- What is considered to be a fair procedure for retrenchment? The employer must consult with …
- What must the notice to consult look like? The employer must give notice to the affected …
- What does it mean to consult? Consultation is a joint consensus-seeking process between …
RETRENCHMENT | English meaning - Cambridge Dictionary
WebAdd to word list. a situation in which a government, etc. spends less or reduces costs: In retrenchment, central government may seek to limit the total expenditure of all local governments for economic stabilization. Experts see a major retrenchment coming from consumers. Australian English or South African English.
RETRENCHMENT definition | Cambridge English Dictionary
Weba situation in which a government, etc. spends less or reduces costs: In retrenchment, central government may seek to limit the total expenditure of all local governments for economic stabilization. Experts see a major retrenchment coming from consumers. Australian English or South African English.
What is Retrenchment? Meaning and Definition - HR Glossary
WebRetrenchment is a process of reducing employees by terminating them from the workforce. Organizations often have to take this decision due to following reasons like business downturns, restructuring, or the need to reduce costs.
What is Retrenchment? | peopleHum
WebDefinition of Retrenchment of employees is terminating an employee due to the surplus of labor or incapacity of employees to match the performance standards of the company.
Retrenchment Strategy: Simplified and Explained - Shiftbase
WebMay 21, 2024 · Retrenchment refers to a strategic approach that organizations adopt when they face financial difficulties, operational inefficiencies, or a decline in their market position. It involves a series of deliberate actions aimed at cutting costs, optimizing resources, and repositioning the company for long-term sustainability.
Retrenchment - Explained | Reference Library
WebMay 12, 2018 · Retrenchment is a term used to describe when a business decides to significantly cut or scale-back its activities. Retrenchment might occur when one or more of the following happen to a business: …
Retrenchment : Meaning, Definition and Requirements of valid ...
WebRetrenchment means termination of service of a workman by the employer by any reason but other than punishment or disciplinary action. In simple words, if an employer discharges or removes any workman or staff member on the ground of surplus labor or staff, but not as a disciplinary action it is called retrenchment.
What is Retrenchment? Definition and Conditions - Business …
WebDefinition: Retrenchment is a situation involving permanent termination or discharge of an employee’s services by an employer for any reason whatsoever. It is forced on both parties, i.e. employer and employee. One can commonly see it in areas like plantations, agricultural services, food industry, machinery manufacturing and textile industry.
RETRENCHMENT Definition & Meaning | Dictionary.com
Webnoun. the act of retrenching; a cutting down or off, as by the reduction of expenses. Fortification. an interior work that cuts off a part of a fortification from the rest, and to which a garrison may retreat. Discover More. Other Words From. non re·trench ment noun. Discover More. Word History and Origins. Origin of retrenchment 1.
The Strategy of Retrenchment and Its Consequences
WebRetrenchment is a strategy designed to reduce a country’s international and military costs and commitments. [1] . This can be done by cutting defense spending, withdrawing from certain alliance obligations, scaling back on deployments abroad, or reducing international expenditures.
What is Retrenchment? | Meaning & Definition | Keka HR
WebRetrenchment means cutting down expenditures by relieving employees to become financially solvent. In HR, termination is very common when an employee does not perform up to the mark or does not follow the professional code of conduct.
Retrenchment - Wikipedia
WebRetrenchment (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. Political usage
Retrenchment - Employsure AU
WebJun 14, 2023 · Guides. Redundancy. Retrenchment. Published June 14, 2023 (last updated on February 29, 2024) | Adam Wyatt - Content Writer. What is retrenchment? The term retrenchment is used to describe a situation whereby a role within a business previously filled by an employee ceases to exist.
Retrenchment in Labour Law
WebOct 5, 2023 · In essence, retrenchment in Labour Law refers to the termination of an employee’s service for reasons such as company restructuring, downsising, economic challenges, technological advancements or discontinuation …
Retrenchment in Labour Law - iPleaders Blog
WebJan 8, 2024 · Definition of retrenchment. Object of retrenchment in Labour Law. Requirements for a valid retrenchment in Labour Law. Exceptions to retrenchment in Labour Law. Procedure for retrenching employees. Ethical standards for retrenchment in Labour Law. Retrenchment differs from termination. Rights of employees at the time of …
Difference Between Retrenchment and Redundancy - ALBURO …
WebJun 1, 2022 · Retrenchment as authorized cause for dismissal is rooted from the principle that losses in the operation of the enterprise, lack of work, or considerable reduction on the volume of business may justify an employer to reduce the work force. However, for retrenchment to be a valid authorized cause for dismissal, the three (3) basic …
What is Retrenchment Compensation | Eligibility and How it Works
WebJun 8, 2022 · Retrenchment Compensation meaning: It is the termination of an employee's employment by a manager for reasons other than a failure resulting in disciplinary action. The employer is then legally obligated to financially compensate the employee who was fired in this manner.
Responsible retrenchment - Ministry of Manpower
WebMar 14, 2024 · The amount of retrenchment benefit depends on what is provided for in the employment contract or collective agreement (for unionised companies). If there is no provision, it will have to be negotiated between the employees (or their union) and the employer. The prevailing norm is to pay a retrenchment benefit of between 2 weeks to 1 …
What is Retrenchment? | Zimyo HRMS
WebRetrenchment meaning corresponds to the expenditures being cut down to make the employees financially solvent. Retrenchment in HRM is quite common when the performance of the employee is not up to the mark or to the level that is required or in case he breaches the professional code of conduct.
Four years later, has the racial-justice movement lost the fight?
Web3 days ago · Four years after George Floyd’s murder, two Washington Post reporters reflect on the retrenchment of the racial-justice movement sparked by his death. In their book, “His Name Is George Floyd ...
AirAsia’s retrenchment based on high salaries improper, unfair
Web“Retrenchment based solely on high salary is unfair and discriminatory or biased against more experienced employees who have worked longer for the employer.
Retrenched Lazada employees to get more payouts but some …
Web4 days ago · After the retrenchment exercise, the union urged affected employees to become members, Ryan said, noting that membership costs more than S$100 per year. “‘Join the union, you’re going to be ...
TikTok plans global layoffs in operations and marketing - CNN
Web6 days ago · CNN —. TikTok is planning to lay off large swaths of its operations and marketing workforce, current employees briefed on the plans told CNN. The global layoffs are expected to hit teams that ...
Pixar Lays Off 14% of Its Staff and Will Stop Making Shows for …
WebMay 21, 2024. Pixar will stop making original shows for Disney+ as part of a broader retrenchment, resulting in layoffs that will reduce its work force by 14 percent. Jim Morris, the president of ...
Crypto stock sell-off a 'modest retrenchment' amid spot Ethereum …
Web5 days ago · Crypto stock sell-off a 'modest retrenchment' amid spot Ethereum ETF hype, analyst says | The Block. Despite Thursday's sell-off in bitcoin-related stocks, the overall shift in tone “should make institutional investors …
Court rules AirAsia's retrenchment of high-salary engineers during ...
WebKUALA LUMPUR: The Industrial Court has ruled that AirAsia Bhd's decision to retrench two aircraft engineers during the Covid-19 pandemic was "improper" and "unfair," as it was based on their high salaries. Court chairman Andersen Ong said that the airline had "adopted the wrong principles" when it made its licensed aircraft engineers redundant ...
What Is Pattern Drenching? Plus, Tips for How to Do It Well
WebMay 13, 2024 · Pattern drenching means using pattern throughout a space—from the upholstery to the wallpaper to the rugs, textiles, and, occasionally, even the ceiling. Pattern drenching can be one pattern repeated throughout a space, or it could be a flurry of different patterns, all chosen to complement each other.
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