Sentence examples for reducing severance from inspiring English sources
Spain's general strike was called in June, when Parliament approved a labor market overhaul intended to lower the cost of firing workers by reducing severance pay.
Spain, where the labour market has long been notoriously blocked, introduced a reform in 2012 that made life less cosy for permanent staff by giving firms more leeway to get rid of workers on economic grounds and reducing severance pay.Although the index (see chart) is a useful guide, it has limitations.
Tom LaSorda, Chrysler's vice chairman, said the new terms dealt in part with reducing severance payments and changing work rules.
Apple Computer Inc. co-founder Steve Jobs, harking back to the company's early days, is axing sabbaticals, ending cash bonuses for executives and reducing severance pay.
The company is also reducing severance pay to one week of salary for every year worked, from one month of pay for every year worked.
The new rules also reduce severance payments for civil servants.
CSIRO also wants to reduce severance payments for those whose jobs are eliminated due to budget cuts.
The decree is intended to reduce the cost of firing workers on permanent contracts by reducing their severance pay in certain cases to 33 days per year worked, rather than 45, according to a spokesman for the Labor Ministry, Pep Gorgori González.
On the other hand, firms may prefer to have more women than men in their labor force because their higher turnover rates imply that women will probably quit before attaining a high level of tenure, reducing future severance payment costs (Pagés and Montenegro 1999).
Employers' contributions to UISAs reduce their severance payments obligations, so severance pay is being partly replaced by the UI program.
At more than 20 companies, including Boeing, Citigroup, General Electric, PepsiCo and Verizon Communications, investors have introduced resolutions this year to reduce future severance payments, according to the Investor Responsibility Research Center in Washington.
