Guidance on retrenchment and restructuring – IFC
Posted by Steve Gibbons
This
The Good Practice Note provides guidance to private sector companies operating in emerging markets on managing the retrenchment process in a socially responsible manner and in accordance with international standards and best practices.
It is relevant for investments where significant job losses are anticipated or have recently taken place including: privatizations, total or partial closures of a plant/facility, restructuring and downsizing due to efficiency gains or changes in demand. The Note provides a useful tool for companies including practical, how-to guidance on a range of topics, including: consultation, national and legal requirements, selection criteria, appeals and grievances, severance pay, alternative employment for retrenched workers, and community impacts.
Click here to download the guide, hard copies of which can also be ordered from the World Bank information shop