Protecting Your Credit Union During a Restructuring
Credit unions continue to evolve to meet member needs and economic pressures in an ever-changing and competitive environment. Mergers and consolidations, new technologies, shifting member needs and budget issues often require a consolidation of positions or restructure of the workforce resulting in the termination of employees who are otherwise good performers. In addition to the emotional strain and negative impact on morale that accompanies such terminations, employers need to tread carefully to avoid or mitigate the risk of litigation.
In their article for Credit Union Times, Rosemary Gousman, co-chair of Fisher Phillips’ Financial Services Industry Team, and Hagood Tighe, co-chair of Fisher Phillips’ Wage and Hour practice, outline several key steps that should be considered by credit unions if a consolidation or restructure will result in job losses.
To read the full article, visit Credit Union Times.