RIM went on to say that, "The workforce reduction
is believed to be a prudent and necessary step for the long term success of the company and it follows an extended period of rapid growth within the company whereby the workforce had nearly quadrupled in the last five years alone."
Similarly, the current competency study describes what successful managers in a scenario specific to workforce reduction
should do to deal with the survivors.
Top management and business owners across industry sectors in the UAE expressed their commitment to continue to retain their talent with only a quarter perceiving necessary workforce reductions
CSA Czech Airlines, which plunged to a CZK496 million ($22.1 million) loss in 2005 from a CZK324 million profit the year before, yesterday unveiled a three-year plan to return to profitability dubbed "OK 06-08" that will include a 10%-20% workforce reduction
. The airline's initiatives are a stricter focus on the core business, simplification of its ticket sales process, a cost-benefit analysis of existing services and the addition of long-haul flights to East Asia with renewal of the long-haul fleet beginning in 2008.
announced a corporate restructuring and the shutdown of the spandex stretch fibres personal care operations at its Maitland, ON, site as part of its parent company's worldwide workforce reduction
. These steps are expected to result in a total workforce reduction
of about 200 positions in Canada, which includes approximately 85 roles at the Maitland site.
The workforce reduction
will affect ground staffers, the company said.
28 Parlex laid off 55 workers as part of a previously announced workforce reduction
plan and now employs 335 in Methuen.
Approximately US$ 40 million of the cost savings will result from a workforce reduction
of 500 employees.
* Month 5: The company announces a large workforce reduction
The trust's purpose was to supplement state unemployment benefits for employees laid off in a workforce reduction
. Payments were based on the size of the trust, the amount of state unemployment benefits, the duration of the layoff, the time worked before layoff and other conditions.
The company said its plans could be averted through a workforce reduction
plan over three years, and major concessions that would eliminate the collective bargaining agreement from everything but wages and benefits.
This action will result in a workforce reduction
of about 270.