RIFS & Severance Plans Exit Strategies
Reductions in force (RIFS) and other terminations must be carefully planned and executed to minimize costs and exposure to liability. Kilpatrick assists clients with all types of severance arrangements, including voluntary and involuntary reductions in force impacting large numbers of employees, individual employee terminations, and executive exit packages. Our attorneys have extensive experience in the design and drafting of ERISA severance plans, summary plan descriptions, and related employee communications.
Reach
Cost Factors
Our support in determining the nature and scale of RIFS help minimize costs and ensure compliance with federal and state laws. We advise on periods of notice related to the Workers’ Adjustment Retraining and Notification Act (WARN), and create ERISA plans with highly-specific eligibility requirements for severance. We also counsel clients in determining if RIFS make sense in terms of immediate costs, as well as potential downstream costs for rehiring and training when demand for goods or services bounces back.
Differentiator
A Fair Approach
Our team advises on determining the best course of action between voluntary and involuntary terminations and has deep experience developing the most appropriate frameworks for each. When involuntary reductions in force are appropriate, we support clients in developing a uniform approach to selecting employees for termination and guiding them through applying this method fairly and consistently. We are also experienced in negotiating settlement agreements for international employees, making clients aware of immigration implications around H1-B visas and other areas of potential concern.
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