Law360, New York (March 02, 2009, 12:00 AM ET) -- For many employers, these are desperate economic times. Every entity facing diminished revenue must consider cost cuts to survive.
As news reports show, reductions in force (RIFs) are being used daily to achieve cost savings, and for some employers they may be the best solution. In some cases, however, the savings are not immediate as a result of statutorily required or voluntary notice periods, as well as costs of severance pay.
A different approach may be a furlough strategy, customized to fit each employer’s needs, which...
Amid Tough Times, Furloughs Can Save Money, Jobs
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