25 min
Considering Employee Layoffs? Here Are Some Best Practices Paychex THRIVE, a Business Podcast
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- Management
As the economy begins to slow down, many companies may be forced to turn to employee layoffs, now and in the future. Hear from Lenny Feigel, labor and employment attorney at Foley & Lardner LLP, about what you need to consider. Find out why it’s so important to plan, how to select where your layoffs are going, what companies are offering in terms of separation and severance pay, and much more.
Topics Include:
00:19 – Introduction to attorney Lenny Feigel02:03 – Having a good relationship with a labor attorney02:53 – The importance of planning when considering layoffs05:04 – Selecting where layoffs are going06:47 – What to consider to avoid claims of discrimination09:11 – Should layoffs be based on performance reviews?10:28 – What companies are offering in separation and severance13:20 – Strategy for layoff timing: do it immediately or give time?13:42 – The Worker Adjustment and Retraining Notification Act15:50 – The importance of a separation agreement19:30 – Big takeaways20:39 – Communicating with employees that are being retained
Have a guest or topic you’d like to suggest for the show? Submit your ideas here.
DISCLAIMER:The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.
As the economy begins to slow down, many companies may be forced to turn to employee layoffs, now and in the future. Hear from Lenny Feigel, labor and employment attorney at Foley & Lardner LLP, about what you need to consider. Find out why it’s so important to plan, how to select where your layoffs are going, what companies are offering in terms of separation and severance pay, and much more.
Topics Include:
00:19 – Introduction to attorney Lenny Feigel02:03 – Having a good relationship with a labor attorney02:53 – The importance of planning when considering layoffs05:04 – Selecting where layoffs are going06:47 – What to consider to avoid claims of discrimination09:11 – Should layoffs be based on performance reviews?10:28 – What companies are offering in separation and severance13:20 – Strategy for layoff timing: do it immediately or give time?13:42 – The Worker Adjustment and Retraining Notification Act15:50 – The importance of a separation agreement19:30 – Big takeaways20:39 – Communicating with employees that are being retained
Have a guest or topic you’d like to suggest for the show? Submit your ideas here.
DISCLAIMER:The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.
25 min