Retrenchment is the act of cutting down or reduction, particularly in the area of public expenditure, money availability would cause the need to retrench.
Some of the causes of retrenchment are:
Technology:
New technologies can cause the need for company reorganization. For instance, if there is a new machine that digs a ditch, you would hire a person to run the machine, but let go the ten man shovel crew.
Economics:
A company might need to reduce costs, or simply wish to increase profits. Sometimes retrenchment is needed for a company's economic survival.
Structural:
The restructuring of a company can sometimes make a position redundant. To increase efficiency, some people may be offered other positions. If they do not wish to take the new position, they could be retrenched.
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.
# 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.
Certain social effects can cause socioeconomic issues. A couple of examples are changes in physical environments and changes in law.
what are the causes of fluctuations in the exchange rate
causes of econimic downfall in the philippies
Retrenchment refers to sudden firing of employees du to change in organisational strategy or bjective
tacr
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.
reduction, cut, retrenchment, economy, decrease, lessening
gghfgf =
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