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In international finance, the redundancy problem, also known as the n − 1 problem, is a problem of inequality of the number of policy instruments and the number of targets at the international level, [1] suggested by Robert Mundell in Robert Mundell (1969). [2] [3] This problem does not occur at the one-country level. [2]
Voluntary redundancy (VR) is a financial incentive offered by an organisation to encourage employees to voluntarily resign, [1] typically in downsizing or restructuring situations. The purpose is to avoid compulsory redundancies or layoffs.
Voluntary redundancy is when an employer asks an employee to agree to terminate their contract, in return for a financial incentive.
Severance pay in Luxembourg upon termination of a work contract becomes due after five years' service with a single employer, provided the employee is not entitled to an old-age pension and the termination is due to redundancy, unfair dismissal, or covered in a collective labor agreement. [32]
The Extraordinary Redundancy Fund applies, at the contrary, to other cases in which the production completely stops, also for a long period and also due to the employer’s decisions, after the authorization of the Ministry of Labour, such as industrial reorganizations, technological unemployment, crisis of the sector, bankruptcy, etc.
The Redundancy Payments Act 1965 (c. 62) was an act of the Parliament of the United Kingdom that introduced into UK labour law the principle that after a qualifying period of work, people would have a right to a severance payment in the event of their jobs becoming economically unnecessary to the employer. The functions of the redundancy ...
The Government has called for car giant Stellantis to review its plans to close Luton's Vauxhall van factory. The move was confirmed by the Business Secretary Jonathan Reynolds who has written to ...
The financial industry has ballooned in size following the use of shareholder value, largely due to the outsized importance placed upon shareholders by corporations. [ 58 ] [ 46 ] The large financial sector is a drain on the entire United States economy, costing roughly 300 billion dollars per year. [ 46 ]