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Retrenchment policy
Retrenchment is the termination of an employee or group of employees by an employer for reasons other than disciplinary action. Retrenchment may occur during major organisational restructuring or in response to significant financial losses or insolvency. Because it is an involuntary process, policy documentation should demonstrate steps to minimise the need for retrenchment as well as to minimise the impact on affected individuals.
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ESG Tracker Knowledge Base | 2024