Reasons for Layoff Layoff shall occur only for lack of work or lack of funds.
Reasons for Leave 1. Leave is only permitted for the following reasons:
Basis for Layoff A. The reasons for layoffs include, but are not limited to, the following:
REASONS FOR AND BENEFITS OF THE DISPOSAL Against the backdrop of the outbreak of Coronavirus Disease 2019 in the PRC at the beginning of 2020, demand for hydraulic press products has been further affected by the conditions and growth of the industries in which Tianjin Tianduan’s customers operate, particularly the cyclical industries, which are influenced by macroeconomic factors within the PRC, such as government policy initiatives and the levels of fixed asset investment. Although the sector showed signs of fast resumption in industrial activities after the coronavirus pandemic was contained in the PRC, it is expected that the growth of hydraulic press demand will be decelerated due to lingering economic uncertainty. Furthermore, the hydraulic press industry in the PRC is still intensely competitive and price sensitive. Tianjin Tianduan reported operating losses in last two years and has faced pricing and margin pressure from the impact of higher raw material costs and the sustained keen competition among local companies and domestic-based multinationals in the markets where it currently operates. Meanwhile, the volatility of relevant industries will expose Xxxxxxx Xxxxxxxx to uncertainty and potential instability with respect to its business performance and results of operations. It has been one of the Company’s business development strategies to make appropriate business decisions and adjustments according to the overall business environment. Considering the impact of cyclicality and market conditions in the hydraulic press industry in the PRC, the Directors believe that the Disposal may allow the Company to realise its investment in Tianjin Tianduan and further apply its resources for maintaining the existing businesses of the Group. As Xx. Xxxxxx Wing Yui, Xxxxxx, non-executive Director, is a consultant of Messrs. Xxx Xxxx Xxx & Lo which provides legal and professional services to the Company in respect of the Disposal, he has voluntarily abstained from voting on the resolutions of the Board approving the Equity Transfer Agreement and the Disposal. The Directors consider that, although the Equity Transfer Agreement and the Disposal are not in the ordinary and usual course of business of the Group, the terms of the Equity Transfer Agreement are fair and reasonable, and that the Disposal is on normal commercial terms and in the interests of the Company and the Shareholders as a whole.
GROUNDS FOR DIVORCE Irreconcilable differences, the irretrievable breakdown of the marriage, and incompatibility of temperament have led to the irremediable breakdown of the marriage with no possibility of reconciliation.
No Layoff to Compensate for Overtime Employees shall not be required to layoff during regular hours to equalize any overtime worked.
PROCEDURES FOR EVALUATION A. The evaluations of school year employees covered by this agreement shall be completed no later than May 30 of each school year for 9-month employees and by June 30 for 10/12-month employees. The evaluation shall be reviewed with the employee, with a copy given to the employee at the conclusion of the review. An employee may present written comments, which shall be attached to the written evaluation document. The evaluator and employee shall sign the evaluation document. The employee’s signature does not constitute approval or disapproval, but only that the evaluation has been reviewed with the employee.
