We have the highest unemployment rate weve had in 20 years and the only province facing a decline in its GDP, said Karen Wyke, a partner with Fasken Martineau DuMoulin LLP, speaking at the Canadian Corporate Counsel Association last week.
Wyke was part of a panel discussing recurring themes faced by in-house counsel in the current economic climate.
From the perspective of workforce reductions, Gulu Punia of Faskens said his clients have been dealing with mass terminations defined in Alberta as 50 dismissals at one location and requiring four weeks notification to the government.
Other employers are asking employees to take voluntary pay cuts. In one case, a client asked its top 20 people to take 20-per-cent pay cuts. The typical con…
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