What Is The Meaning of Retrenchment?


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Retrenchment

 

Retrenchment– It means permanent termination of service of an employee for economic reasons in going concerns. The industrial disputes Act 1947 defines retrenchment as the “termination by the employer of the services of workman for any reason other than termination of service as punishment given by way of disciplinary action, or retrenchment either voluntary or reaching age superannuation or continued ill health or the closure and winding up of business.

 


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