Tightening the Belt: Employment Law Issues Regarding Business Downsizing in an Economic Downturn
Hong Kong's economy has shown some encouraging signs of improvement, but the ongoing Covid-19 pandemic has created inevitable repercussions on the city's employment market. Businesses large and small have engaged in cost reduction in some form or other as their revenue takes a hit.
At a Chamber webinar on 26 August, Michael Szeto, Partner at ONC Lawyers, discussed how companies can balance the rights and interests of both the employer and employees when they need to make tough decision, such as wage reductions and retrenchments. Key employment issues he touched on included whether employers can request employees to take no-pay leave, dismiss employees without reason, or reduce wages or change contractual terms.
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