RIFS & Severance Plans Exit Strategies
Reductions in force (RIFS) and other terminations must be carefully planned and executed to minimize costs and exposure to liability. Kilpatrick Townsend assists clients with all types of severance arrangements, including voluntary and involuntary reductions in force impacting large numbers of employees, individual employee terminations, and executive exit packages. Our attorneys have extensive experience in the design and drafting of ERISA severance plans, summary plan descriptions, and related employee communications.
Our support in determining the nature and scale of RIFS help minimize costs and ensure compliance with federal and state laws. We advise on periods of notice related to the Workers’ Adjustment Retraining and Notification Act (WARN), and create ERISA plans with highly-specific eligibility requirements for severance. We also counsel clients in determining if RIFS make sense in terms of immediate costs, as well as potential downstream costs for rehiring and training when demand for goods or services bounces back.
A Fair Approach
Our team advises on determining the best course of action between voluntary and involuntary terminations and has deep experience developing the most appropriate frameworks for each. When involuntary reductions in force are appropriate, we support clients in developing a uniform approach to selecting employees for termination and guiding them through applying this method fairly and consistently. We are also experienced in negotiating settlement agreements for international employees, making clients aware of immigration implications around H1-B visas and other areas of potential concern.
Kilpatrick Townsend Counsel to Leaders
Meet The Team View All
While we are pleased to have you contact us by telephone, surface mail, electronic mail, or by facsimile transmission, contacting Kilpatrick Townsend & Stockton LLP or any of its attorneys does not create an attorney-client relationship. The formation of an attorney-client relationship requires consideration of multiple factors, including possible conflicts of interest. An attorney-client relationship is formed only when both you and the Firm have agreed to proceed with a defined engagement.
DO NOT CONVEY TO US ANY INFORMATION YOU REGARD AS CONFIDENTIAL UNTIL A FORMAL CLIENT-ATTORNEY RELATIONSHIP HAS BEEN ESTABLISHED.
If you do convey information, you recognize that we may review and disclose the information, and you agree that even if you regard the information as highly confidential and even if it is transmitted in a good faith effort to retain us, such a review does not preclude us from representing another client directly adverse to you, even in a matter where that information could be used against you.