A Termination Letter Due To Cost Cutting is a formal document used when an employer needs to end employment relationships as part of organizational restructuring or financial optimization. This template is specifically designed for use in Hong Kong and ensures compliance with local employment laws, particularly the Employment Ordinance (Cap. 57) and related legislation. The document includes essential elements such as notice period requirements, severance payment calculations according to Hong Kong statutory formulas, and final payment details. It's typically used during company restructuring, economic downturns, or strategic realignment when positions are being eliminated for genuine business reasons. The letter must carefully balance legal compliance, professional courtesy, and clear communication of all entitlements and next steps.
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1. Letter Header: Company letterhead, date, and employee's details including name and address
2. Subject Line: Clear indication that this is a notice of termination
3. Opening Statement: Direct statement of termination due to cost-cutting measures
4. Business Context: Brief explanation of the company's economic situation and necessity for cost reduction
5. Termination Details: Specific information about last working day and notice period
6. Statutory Entitlements: Information about final salary, severance pay, and other statutory payments
7. Company Property: Instructions regarding return of company property and handling of confidential information
8. Final Administrative Matters: Details about final paycheck, MPF arrangements, and tax documentation
9. Reference and Future Support: Offer of reference letter and any outplacement support if applicable
10. Closing: Expression of gratitude for service and good wishes for the future
11. Signature Block: Company representative's name, title, and signature
1. Garden Leave: Include when employee is not required to work during notice period but will remain on payroll
2. Non-Compete Reminder: Include if employee is bound by existing non-compete agreements
3. Benefits Continuation: Include details of any benefits that continue post-termination
4. Outplacement Services: Include if company is providing career transition support
5. Release Agreement: Include if requesting employee to sign a release of claims
6. Exit Interview: Include if company wishes to conduct an exit interview
1. Schedule A - Payment Calculation: Detailed breakdown of final payment including salary, severance, and other entitlements
2. Schedule B - Outstanding Leave Balance: Calculation of any annual leave or other leave entitlements to be paid out
3. Schedule C - Company Property Checklist: List of company items to be returned before final clearance
4. Appendix 1 - Handover Document Template: Template for documenting handover of responsibilities
5. Appendix 2 - Exit Clearance Form: Form listing all clearance requirements before final departure
Relevant legal definitions
Clauses
Relevant Industries
Financial Services
Technology
Manufacturing
Retail
Professional Services
Healthcare
Education
Construction
Hospitality
Telecommunications
Real Estate
Media and Entertainment
Transportation and Logistics
Energy and Utilities
Relevant Teams
Human Resources
Legal
Finance
Operations
Administration
Information Technology
Sales
Marketing
Customer Service
Research and Development
Production
Quality Assurance
Supply Chain
Facilities
Relevant Roles
Chief Executive Officer
Chief Financial Officer
Managing Director
General Manager
Department Head
Senior Manager
Manager
Supervisor
Executive
Officer
Administrator
Coordinator
Specialist
Analyst
Associate
Assistant
Technical Staff
Support Staff
Operations Staff
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