Common use of Retrenchment Clause in Contracts

Retrenchment. 14.1 Retrenchment occurs when a reduction in members' salary costs is necessary for financial reasons. 14.2 The President shall notify the Union in writing when he/she contends that, rigorous economies in all other segments of the budget having been exercised and all other practical means of alleviating the difficulty having been undertaken, financial constraints require a reduction in members' salary costs. He/she shall specify the amount of the reduction required and shall accompany the notice with all the budgetary information used in arriving at the retrenchment decision. 14.3 Within two (2) weeks of such notice, the Union may challenge the contention that retrenchment is necessary, in which case the issue shall be submitted to a three-member Commission which shall advise the Board of Governors whether, and to what extent, the Commission considers retrenchment necessary. The Union shall name its appointee to the Commission in its challenge, the Employer shall name its appointee within three (3) days of that date, and the two

Retrenchment. 14.1 Retrenchment occurs when a reduction in membersMembers' salary costs is necessary for financial reasons. 14.2 The President shall notify the Union in writing when he/she contends they contend that, rigorous economies in all other segments of the budget having been exercised and all other practical means of alleviating the difficulty having been undertaken, financial constraints require a reduction in membersMembers' salary costs. He/she They shall specify the amount of the reduction required and shall accompany the notice with all the budgetary information used in arriving at the retrenchment decision. 14.3 Within two (2) weeks of such notice, the Union may challenge the contention that retrenchment is necessary, in which case the issue shall be submitted to a three-member Commission which shall advise the Board of Governors whether, and to what extent, the Commission considers retrenchment necessary. The Union shall name its appointee to the Commission in its challenge, the Employer shall name its appointee within three (3) days of that date, and the two

Retrenchment. 14.1 Retrenchment occurs when a reduction in members' salary costs is necessary for financial reasons. 14.2 The President shall notify the Union in writing when he/she contends considers that, rigorous economies in all other segments of the budget having been exercised and all other practical means of alleviating the difficulty having been undertaken, financial constraints require a reduction in members' salary costs. He/she shall specify the amount of the reduction required and shall accompany the notice with all the budgetary information used in arriving at the retrenchment decision. 14.3 Within two (2) weeks of such notice, the Union may challenge the contention that retrenchment is necessary, in which case the issue shall be submitted to a three-member Commission which shall advise the Board of Governors whether, and to what extent, the Commission considers retrenchment necessary. The Union shall name its appointee to the Commission in its challenge, the Employer shall name its appointee within three (3) days of that date, and the two