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Tables turn: After hunting for managers in past, companies now negotiate exits

31.05.2009, 16:36 6
The number of managers seeking legal advice sensing that their employers are preparing to get rid of them quickly has increased significantly. This is a drastic change from the last few years, when executives were headhunted and offered large salaries, amid a lack of specialists and the spectacular growth of businesses. Four former managers of energy company Electrica, who were replaced from their positions in February, have recently brought a case against the company to court, and are asking for compensations amounting to 4 million RON (almost 1 million euros) in overall sum, deeming their removal from those positions illegal. These are not isolated cases, as the trend is strongly felt in the private sector. "Around August – September managers started to seek our services. It was a somewhat confusing time. The top management is perceived as a generator of supplementary costs at this time, and companies are trying to remove them more or less amicably and justifiably," says Cristina Popescu, senior associate with law firm Lina & Guia.

 

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