Answer to Question #108369 in Economics for Brightchrist Mmari

Question

Redundacy is one of the cosequence of current economic change in tanzania economy briefly explain the 5 impact of this situation

Answer 1

Redundancy is when an employer reduces their workforce because a job or jobs are no longer needed.

Redundancies can be forced or voluntary – in the case of voluntary redundancies there are usually incentives offered to outgoing employees, such as extended garden leave or more valuable severance packages. Voluntary redundancies are designed to prevent the employer having to choose who to terminate.