Helping Our Clients Meet Their Business Goals

Case Studies

Technology Consulting Firm

Transaction

Strategic restructuring. Management outsourced several of its service units, requiring the displacement of several hundred employees.

Outcome

The Client adopted a Supplemental Unemployment Benefit Plan. Payments were disbursed on normal pay cycle basis. Workers filed for State Unemployment benefits which were used to offset company-paid severance. All benefit payments ceased upon reemployment. More than 1200 employees have thus far been displaced, allowing the client company a 26% cost savings equal to more than $2.94M.

National High-End Retailer

Transaction

Retail slump. Management sought to reduce severance costs while providing meaningful benefits to employees. Store closures and national force reductions lead to terminations of employees from within multiple job tiers throughout all company departments.

Outcome

Client adopted a Supplemental Unemployment Benefit Plan for both full- and part-time employees. Payments were disbursed on normal pay cycle basis. Workers filed for State Unemployment benefits, and all benefit payments ceased upon reemployment. 709 terminations within the first 19 weeks of program implementation provided the client $1.17M in savings, an amount equal to 33% of the company’s pre-program costs.

Performance-Based Separations

Transaction

Employees terminated for non-performance. Management sought to provide short-term support without incurring a significant cost.

Outcome

195 terminated employees provided with an average benefit of three weeks. Displaced employees filed for state unemployment benefits which were offset from company-paid benefits. Benefit payments disbursed for performance-based terminations are ineligible for SUB Plan tax advantages but can still benefit from State UI Offset and Duration Management savings. Over $52,000 has been saved by employer since program inception.

 

 

 

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These materials are being provided for information purposes only. TSI is not providing advice, legal, tax or otherwise, nor do we warrant the accuracy or completeness of this information for any implied or explicit purpose.