Layoffs or worksharing?
With all the change going on in the world these days, there is uncertainty in many sectors.
Some organizations continue to thrive while others are simply struggling to survive.
For those struggling, I suspect one of the things you are looking at is where to cut costs. With labour costs generally one of the highest, if not the highest expense for a company, here are some questions you may be asking.
- Is it time to lay off some of our workforce?
- If I do, will it be a long-term or short-term layoff?
- How will I manage the workload if I don’t have enough employees to do the work I need to complete?
- What if I lay off employees today and we get a big contract tomorrow?
All of these questions are necessary, and another question I would like you to consider is:
- Would the EI Work-Sharing Program benefit my employees and my company?
As you are considering your next steps, I want to make you aware of this program. It has been in existence for many years, with enhancements made as recently as February 2009 to reflect the current economic reality.
Read more about the EI Work-Sharing Program.