The COVID-19 pandemic has caused major disruption across sectors and continents, forcing corporates to re-evaluate their recovery plans and consider measures to protect their long-term futures. One such measure is redundancies.
To help employers navigate through the complexities and sensitivities redundancy initiatives can bring, we recently compiled a podcast series to address the five topics we believe are the most business-critical.
This document provides an overview of each podcast and the five key topics considered in each. It includes links to each podcast, through which you can view easily accessible time stamps to quickly skip to the topic of your choice.
Brexit and COVID-19: the perfect storm?
In the first episode of the series, Phil Linnard and Clare Fletcher share their insights on how Brexit and COVID-19 are shaping the landscape for redundancies. They consider the legal changes to date (and to come), whether jobs are disappearing or just changing, and how new problems need new solutions.
People not employees – The impact on the wider workforce
In the second episode, Lizzie Twigger, Katherine Flower and Clare Fletcher discuss the ‘people’ angle, and consider how traditional labels, terminology and mindset on redundancies need to adapt in the current climate.
The insolvency angle – What changes when the employer is facing insolvency?
In the third episode, Philippa O’Malley, David Rintoul and Clare Fletcher discuss key issues for employers and insolvency practitioners when facing the prospect of redundancies. These include timing issues in the run up to insolvency, the potential discrimination risk faced by administrators, and changes introduced by the Corporate Insolvency and Governance Act 2020.
Pensions and incentives implications – Drawing together the entire benefits package
In the fourth episode, Richard Goldstein, Ian Brown and Clare Fletcher discuss the pensions and incentives aspects of redundancy. They consider the potential implications for pension schemes and all employee share plans, how the position differs with executive awards, and what approach the employer could take to incentivising survivors of a redundancy process.
The aftermath: what comes next?
In the fifth and final episode, Padraig Cronin and Clare Fletcher discuss the aftermath of redundancies. They consider the recent extension of the furlough scheme and postponement of the Job Retention Bonus, dealing with survivors guilt, and an important recent European decision on how to apply the rules that trigger collective consultation obligations where there are successive redundancies.