Personnel reduction in a large investment company

In connection with difficult market conditions a large International investment Company (IC) decided to reduce its personnel by 10% all over the world, including the employees of the Russian office. A number of highly-skilled and highly-paid specialists became redundant.

According to the accepted policy the employees of the IC who achieved high productive indices were owed a large bonus allowance, the payment of which wasn’t maid once at a time but it extended for a certain period of time. E.g. an annual bonus for 2011 was paid during 3 years till the beginning of 2015.

As a result of a coming reduction a part of employees of the IC lost the right to the payment of the allowances, a greater part of which was owed to them. For the protection of their interests 3 specialists of the IC appealed to the YURBUREAU. Alexandr Poliakov and Yulia Babanova were engaged in this project.

Result:

• The dispute is resolved in the pre-trial order in favor of the employees
• Employees are discharged due to the agreement of parties
• The total sum of payments paid to the dismissed employees made up about 85 000 000 RUB