Retirement Incentive and Reduction Sequence. a) Where it is deemed possible to offset the impact of Article 11.5, (Reduction Sequence), through the offering of a retirement incentive to an employee (who qualifies as per Article 22.1, (Eligibility), an incentive shall be offered if the cost of such incentive is the same as or no more than the cost that would be incurred through layoff or transfer of another regular employee. b) Such offers may be made at any time during the year and need not be part of the exercise described in Article 22.3, (Application and Agreement). c) Notwithstanding the possibility of effecting a retirement, advance notification of layoff or transfer pursuant to Article 11, (Reduction, Severance Pay and Recall) may be given to the affected regular employee while the employee to whom a retirement incentive has been offered is considering that offer.
Appears in 4 contracts
Samples: Collective Agreement, Collective Agreement, Collective Agreement
