COVID-19 and Planning for Layoffs, Furloughs, and Terminations
COVID-19 changed our world in 2 weeks. On March 22, U.S. Treasury Secretary Steven Mnuchin said the lockdown affecting large segments of the American public to try to curb the spread of the coronavirus is likely to last 10 to 12 weeks, or until early June. It’s hard to even comprehend the reality of what that means but comprehend we must.
Businesses seemingly overnight have gone from making plans to expand and hire more employees, to making plans to reduce the size of their workforce. Small business went from making plans for the future to making plans for a future in which their doors might close.
Many businesses will likely have some job losses. It’s important to determine a plan today for what your business will do and how it will make decisions – before you have to. Hope for the best and plan for the worse, as the old saying goes. Hopefully your plan will remain in a drawer and next year you can pull it out and wonder how we all made it through. Because no one wants to think about losing employees under current circumstances, but it would be poor business planning to not plan.
What you will learn:
- Furlough or layoff? What’s the difference? Is one better than the other.
- Alternate layoff options.
- How to decide who to lay off.
- What is the federal Worker Readjustment and Training Notification (WARN) Act.
- Obligations of the WARN Act.
- Employers who can’t meet the obligations of WARN.
- Advantages and disadvantages of giving people advance notice of layoffs.
- Who should tell employees. What to tell employees.
- How do you handle paid time off.
- Five things an employer needs to know about unemployment regardless of state, 2 are critical.
- Considerations for safety planning
- What a service letter should contain and not contain.
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