Restructuring dos and don’ts
This year is proving to be an especially difficult period for employers and employees throughout New Zealand. Many businesses are reporting a disappointing year with declines in revenue and operating profits. Some of this performance is due to the macro environment, such as inflation, employment, spending, and monetary and fiscal policy. This is shaping the job market and has created stresses and strains for both employees and employers as they navigate the issues of higher costs, cost-cutting, scaling-back and job cuts. Added to that mix is the upheaval of the “tech wave” with the rise of AI and the prediction that it will be a contributing factor to more layoffs.
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