Termination & Separation Support
Bay Street HR provides critical support for firms when tough decisions need to be made and executed.
Offering support to managers and executives in situations such as: the strategic decision to sever employment, advising on separation packages and conducting termination meetings.
Bay Street HR carefully handles separations and designs proper severance packages to help organizations mitigate their risks associated with severing the employment relationship.
Related Project
When a boutique investment bank acquired another company, Bay Street HR oversaw all aspects of the HR restructuring. We determined a cost effective yet practical formula to use for across the board severance packages of 10 full-time employees.
Bay Street HR conducted all of the termination meetings and successfully negotiated signed releases without legal assistance. Bay Street HR also developed new contracts for remaining employees and assisted in revamping the compensation and equity structure.
Bay Street HR’s management of this process allowed for the smooth transition of the two companies, quick resolutions for the terminated employees and a significant savings in legal fees and termination costs.