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Restructuring

In these deeply challenging times, many businesses are being forced to look at their long term options and plan a more resilient future. We take a look at what can be done if it becomes too hard for a business to maintain the status quo and redundancies become unavoidable.

Series

Restructuring for International Employers in the Time of COVID-19

For international businesses facing serious disruption and financial challenges, we have put together a Guide setting out some of the key restructuring rules, covering 20 of the world’s largest economies.

Countries covered: Australia, Belgium, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, The Netherlands, Russia, Saudi Arabia, South Korea, Spain, Switzerland, Turkey, United Kingdom, United States.

Selection order for dismissals

In some countries, there are tailored rules about the order in which you are allowed to dismiss employees and these serve to protect more vulnerable employees. There are also some general rules that may apply, such as anti-discrimination law. In the map, we mark in red those countries where we have identified selection order rules of one kind or another. In the countries marked in dark grey employers are freer to make their own choices, but please check with a local Ius Laboris lawyer before proceeding. The text was last updated in December 2020.

Severance Pay

The rules around what must be paid when employment ends differ widely according to the country. As the rules vary so greatly, it’s worth having a handle on the specifics in each of the countries in which you operate and so, in this Guide, we set out the rules worldwide and introduce you to an expert to contact if you need more help.

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Restructuring for International Employers in the Time of Coronavirus – Nordics Edition

Countries covered: Denmark, Finland, Norway and Sweden.

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