How is 'retrenched employee' defined in a legal contract?
- Retrenched employee means any participant who is let go by [organization]. Seen in 1 SEC filing
- Retrenched employee means a person who was given a role under a public corporation before [date] and was regularly contributing to any role under that corporation. Seen in 1 SEC filing
- Retrenched employee means an individual whose employment has been ended by [organization] due to it being surplus to the needs of [organization]. Seen in 1 SEC filing
- Retrenched employee means a person who was assigned a role under a public corporation before a certain [date], following the recruitment procedure to that role, and continuously contributing in any role under that corporation until the date of their retirement due to reduction or dissolution of any facility of the government or the public corporation. Seen in 1 SEC filing
Note: The Genie AI Legal Assistant pulled this data out of the SEC EDGAR Database of 500,000 records from the past 22 years of filings. We regularly update this page as new filings and definitions come in.
Search EDGAR for 'Definitions of retrenched employee' yourself to verify these results. We are always keen to point people to source documents.
Which definition should you use?
🤔 Our AI Legal Assistant has combined and improved the above descriptions to create market-standard 'Genie definitions' below, with guidance on which documents and which industry to use for each.
Genie Definition 1
Retrenched employee means a person who was let go by [organization] due to restructuring or surplus needs.
Relevant Contract Types
Relevant Circumstances
- Downsizing or restructuring of an organization
- Redundancy situations
- Company mergers and acquisitions
Relevant Sectors
Genie Definition 2
Retrenched employee means an individual serving under a public entity until retirement due to organizational downsizing.
Relevant Contract Types
Relevant Circumstances
- Government restructuring
- Closure or downsizing of a public entity
Relevant Sectors
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Retrenched employee means a person who was let go by [organization] due to restructuring or surplus needs.
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