Voluntary Retrenchment definition

Voluntary Retrenchment means termination of the employment of staff who are in redundant positions who have accepted voluntary retrenchment offered at the initiative of Council.
Sample 1
Voluntary Retrenchment means the termination of employment at the Company’s instigation and by mutual agreement with the employee concerned.
Sample 1

Examples of Voluntary Retrenchment in a sentence

  • While the Voluntary Retrenchment Agreement led to a generous golden handshake, the remaining employees received a flat salary increase of 20% across the board salary in early 2005.

  • In 2003, the unions agreed to a generous Voluntary Retrenchment Agreement.

  • The failure to comply with the requirement to submit independent audit report for the Voluntary Retrenchment program (VRP) contributed to the failure of the additional financing and the timely reallocation of the refunds from overpayments under the VRP which was identified later on after the audit was conducted.

  • In addition, there was some saving from the compensation payments under the Voluntary Retrenchment Plan (VRP) as the number of employees affected under the plan was lower than originally anticipated.

  • The impact of unemployment that resulted from the retrenchment program was mitigated by setting up Voluntary Retrenchment Plan where the project contributed to the employee’s retirement (pension) plan and appropriate severance packages were paid.

  • We are finalising plans with AWC to develop this further through the secondment of an AWC employee to work within WCR as the lead for what is known as Church CAN. By the time the Council meets we hope to have filled three new roles within the WCR office, partly replacing staff who have left.

  • Apprentices can apply for Voluntary Retrenchment where the Employer needs to implement redundancies.

  • The Company previously applied the practical expedient which permitted the Company to rely on its assessment of whether leases are onerous applying IAS 37 Provisions, Contingent Liabilities and Contingent Assets immediately before the date of initial application as an alternative to performing an impairment review.

  • Voluntary Retrenchment means termination of the employment of staff who are in redundant positions who have accepted voluntary retrenchment offered at the initiative of Council.

  • However, there was a delay in submission of a special audit report for the Voluntary Retrenchment Program (VRP) (discussed below).

Related to Voluntary Retrenchment

  • Voluntary Resignation means any resignation by Employee other than Employee's Termination for Good Reason, as set forth in Subsection 3(f) of this Agreement, or Employee's resignation following Employee's receipt of a Non-Renewal Notice from Paxson.

  • Involuntary Resettlement Safeguards means the principles and requirements set forth in Chapter V, Appendix 2, and Appendix 4 (as applicable) of the SPS;

  • Voluntary Termination means termination by the Employee of the Employee's employment with the Company, excluding termination by reason of Employee's death or disability as described in Sections 2.5 and 2.6.

  • Involuntary Termination means a termination of your employment with the Company pursuant to either (i) a termination initiated by the Company without Cause, or (ii) your resignation for Good Reason, and provided in either case such termination constitutes a Separation from Service. An Involuntary Termination does not include any other termination of your employment, including a termination due to your death or disability.

  • Constructive Dismissal means, unless consented to by the Participant, any action that constitutes constructive dismissal of the Participant, including without limiting the generality of the foregoing:

  • Approved Retirement means any voluntary termination of employment that occurs on or after the date on which the sum of your age and years of employment with Deluxe and/or its Affiliates equals at least seventy-five (75) and that is approved by the Compensation Committee of the Board.

  • Involuntary Termination Without Cause means Executive’s dismissal or discharge other than for Cause. The termination of Executive’s employment as a result of Executive’s death or disability will not be deemed to be an Involuntary Termination Without Cause.

  • Voluntary Termination for Good Reason means that the Executive voluntarily terminates his employment after any of the following are undertaken without Executive’s express written consent:

  • Mandatory Retirement means termination of employment pursuant to the Company’s mandatory retirement policy.

  • Constructive Discharge means the occurrence of any of the following:

  • Qualified Retirement means the Participant’s voluntary termination of Service after reaching age 65 and completing 10 years of service with the Company, its Subsidiaries or predecessors.

  • Constructive Termination means:

  • Progressive discipline means a process of applying and documenting disciplinary actions progressing from less to more serious depending on the employee’s history and the nature of the offense.

  • Involuntary Termination of Employment means any termination of Executive's employment by the Company and its subsidiaries, other than a termination for Cause or due to death or Disability.

  • Constructive Termination Without Cause means the termination of the Executive’s employment at his initiative after, without the Executive’s prior written consent, one or more of the following events:

  • Special Retirement means an Optionee’s termination of employment or service with the Employers and Affiliates on or after the later of (i) the Optionee’s attainment of age 62 and (ii) the Optionee’s Early Retirement Date or Normal Retirement Date, as such terms are defined in the Telephone and Data Systems, Inc. Pension Plan.

  • Qualifying Retirement means the Employee’s voluntary termination of employment after the Employee has (i) attained (X) age sixty-five (65), (Y) age fifty-five (55) with ten (10) Years of Service as a full-time employee of the Partnership or any of its Affiliates, or (Z) an age which, when added to such Years of Service of the Employee equals at least seventy-five (75), and (ii) previously delivered a written notice of retirement to the Partnership and on the date of retirement the Employee has satisfied the minimum applicable advance written notice requirement set forth below: Age at Voluntary Termination Number of Years of Advance Notice 58 or younger 59 60 or older 3 years 2 years 1 year By way of illustration, and without limiting the foregoing, if (i) the Employee is eligible to retire at age fifty-nine (59) after ten (10) Years of Service, (ii) the Employee gives two (2) years notice at age fifty-eight (58) that the Employee intends to retire at age sixty (60), and (iii) the Employee later terminates employment at age fifty-nine (59), then the Employee’s retirement at age fifty-nine (59) would not constitute a Qualifying Retirement. However, if (i) the Employee is eligible to retire at age fifty-nine (59) after ten (10) Years of Service, (ii) the Employee gives two (2) years notice at age fifty-eight (58) that the Employee intends to retire at age sixty (60), and (iii) the Employee terminates employment upon reaching age sixty (60), then the Employee’s retirement at age sixty (60) would constitute a Qualifying Retirement.

  • Disability retirement for plan 1 members, means the period

  • Separates from Service or “Separation from Service” means the Participant’s termination of service as a non‑employee director and as an employee of UGI for any reason other than death and shall be determined in accordance with section 409A of the Code.

  • Qualified Military Service means any service in the uniformed services (as defined in chapter 43 of title 38, United States Code) by any individual if such individual is entitled to reemployment rights under such chapter with respect to such service and to the Employer.

  • Qualified employment position means a permanent full-time

  • Active Employment means you must be actively at work for the Sponsor:

  • Public employees retirement system means the retirement plan and program

  • Qualified Termination has the meaning set forth in Section 4(b).

  • Disability Retirement Date means the first day of the month following the last day of paid employment;

  • Disability Date means the date on which a Participant is deemed disabled under the employee benefit plans of the Corporation applicable to the Participant.