Retrenchment refers to sudden firing of employees du to change in organisational strategy or bjective
retrenchment.
retrenchment
A retrenchment strategy is a type of strategy a corporation uses to scale back its operations. The company can use this to limit the diversity of their operations or just the size of their processes in general.
Retrenchment is the process of reducing costs, usually by cutting back on expenses, staff, or services. It is often done as a strategy to improve a company's financial situation or to streamline operations in response to economic challenges. Retrenchment decisions can have significant impacts on employees, shareholders, and other stakeholders.
Retrenchment means lay off of employees from the company on account of many reasons like, company going in debt or company's need to cut down the payroll, etc. The compensation given at that time to the employees for firing of them without any notice is called retrenchment compensation.
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reduction, cut, retrenchment, economy, decrease, lessening
The advantage is that the wage bill is reduced, the disadvantage of the retrenchment growth strategy is that a firm may loses employee without reaching their full potential.
Conservative retrenchment refers to a political strategy or ideology that seeks to limit government involvement in society and the economy, prioritizing individual responsibility and free market principles. It often involves cutting government spending, reducing regulations, and advocating for traditional values.
stability expansion growth retrenchment etc
# to lay-off, or a lay-off is to get rid of staff, temporary or permanent discharge of workers; redundancy. # retrenchment is to reduce the amount (of costs); to cut down on expenses; to introduce economies.So, whilst all lay-offs may be part of an retrenchment strategy, not all retrenchments necessarily involve lay-offs.