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Lord Flashheart

Does anybody know if...

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companies are legally obliged to put aside a certain amount of cash per annum incase they need to make redundancies? I know very little about employment law etc. but if someone could illuminate us with some details then perhaps we will see if forcing the board to give Mr Roeder his marching orders is a viable option or not. Cheers.http://www.expatax.nl/images/fired1.gif

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[quote user="Lord Flashheart"]companies are legally obliged to put aside a certain amount of cash per annum incase they need to make redundancies? I know very little about employment law etc. but if someone could illuminate us with some details then perhaps we will see if forcing the board to give Mr Roeder his marching orders is a viable option or not. Cheers.

http://www.expatax.nl/images/fired1.gif
[/quote]

No need at all.

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[quote user="The Butler"]

[quote user="Lord Flashheart"]companies are legally obliged to put aside a certain amount of cash per annum incase they need to make redundancies? I know very little about employment law etc. but if someone could illuminate us with some details then perhaps we will see if forcing the board to give Mr Roeder his marching orders is a viable option or not. Cheers.

http://www.expatax.nl/images/fired1.gif
[/quote]

No need at all.

[/quote]

I believe that a provision can be put aside if a planned restructure/programme is announced (generally requires a sign-off by the auditors) within exceptional costs - otherwise the only other place would be as a contingent liability (IAS 37), but I doubt you could provide anything on the basis that we may have a poor manager.....

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