With Covid-19 (or coronavirus) now declared a global pandemic, one cannot help but to consider the potential impact on the economy with entire sectors now at risk.
If you are a business and employ staff, you may unfortunately need to give urgent consideration to cutting business costs which could mean some significant staff changes. While we appreciate the difficulty of making hard decisions which adversely impact staff, it is important to take a realistic approach given the circumstances.
Businesses have a range of options at their disposal on how to deal with staff when faced with an economic downturn. Some of these may include re-structuring of permanent staff, reduced hours, salary reductions, or redundancies. Each business is different, and will require a tailored approach.
However, as a business owner it is vital that any decision you make which impact staff is lawful. The last thing your business needs in an economic downturn is employee legal action, which will only further worsen any financial fallout.
If you are considering making some difficult decisions about your staff, come and speak to Adams & Partners Lawyers first. We can help you make the right decisions which will protect your business moving forward.
Written by Heath Adams