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| *Resource of HR>>>employee turnover |
Is it possible to sue the CEO and MD for mismanagement of company finances? |
As an employee I am concerned at the rate of redundancies / staff turn over. We are being told that we need to save money, and yet we are losing money by maintening a high staff turnover. Between June and December of this year 17 have left by way of resignations, sack or reduncancy. Our total work force is approx 100. If you are a stock holder in the company you can sue the CEO, the Board of Directors, and other officers that make decisions in the management of the company. Call in the Auditors, then if there's a case the Fraud Squad. Bad or mismangement isn't an offence, just incompetance. Corporate fraud however is a different matter and should be reported. There don't appear to be any grounds for complaint outlined here. If someone resigns that is up to them, if they are sacked then query what is the reason, if made redundant query was it justified ? Whether it is a high rate depends on the industry. The Companies Act 2006 sets out the obligations of directors to act in the best interests of the company - if you can show that they are not then there may be grounds for complaint. |
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