Cost Saving Programmes & Employee Relations

All businesses are under severe pressure to maintain trading levels and to manage costs. Employee relations are of significant importance in this situation. Unfortunately, in some cases, businesses are in a position where they must cut employee costs, either through changing terms and conditions, reducing salaries or making redundancies, in order to ensure the survival of the company.

Mazars have extensive experience in working with business owners and employee groups in designing, communicating and implementing significant cost saving programmes which are necessary to sustain the business. These must be structured and agreed to maintain to the maximum extent possible existing employee levels while ensuring that damage to the company operations does not occur. The difficult and tense relations between owners and employees in these circumstances can be greatly improved through using a trusted third party. We can provide an impartial assessment of the current situation, design and propose cost cutting alternatives and communicate and obtain approval from all stakeholders. We can also assist with the subsequent implementation.

Eugene McMahon has worked extensively in this area, both for the Labour Relations Committee, company owners and managers and Trade Union groups and has successfully assessed, designed and implemented a range of company savings and cost cutting programmes which have received the buy in of all stakeholders.

If you are having difficulty in communicating with employee or owner stakeholders the need for a cost cutting programme, or you know that you must commence such a programme in order to ensure the company will survive, then speed will be of the essence. Having an advisor with extensive experience who can command the trust of all stakeholders will greatly enhance your prospects of success. Mazars have that experience and will work with all stakeholders to ensure your business continues with minimum disruption.

For more information email businessturnaroundinsolvency@mazars.ie

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