Corporate Employment & Labour Law
PARTNERS WHO LED THE ADVICE:
Acting as legal advisors to Xenex S.A ( an innovator and high prestige company, specialized in medium and large size installations, in the field of foodservice and laundry equipment),We have provided advisory services in terms of implementing a wide range labour cost reduction programme, which has resulted a 35% reduction of the total annual labour cost. We have drafted an integrated plan, which involved alternatives solutions instead of horizontal nominal pay-roll reduction. Our plan involved a reduction of the weekly working hours program, with proportional salary cut, a small range lay off scheme a rationalization of employees benefits and a new collective labour agreement. The estimated cost saving reached the amount of 2.000.000 euros in a yearly basis.