Managing Rising NZ Costs: Safely Exiting Contracts and Reducing Headcount | LegalVision

Subscribe to LegalVision’s YouTube channel:    / @legalvisionlaw   Sign up for our business newsletter to receive updates on our upcoming webinars and legal news: https://lglv.sn/newsletter-nz Receive a free legal health check to assess your business’ legal needs: https://lglv.sn/legal-health-check-nz With rising costs forcing difficult decisions, many NZ businesses are renegotiating contracts and reducing headcount - but getting either wrong can lead to costly disputes and significant legal exposure. Exiting a contract on the wrong terms, or running a redundancy process that does not meet statutory requirements, can result in breach of contract claims, personal grievances, and unexpected financial liability. To help you manage these risks compliantly and confidently, Ruby Hollinshead (Senior Associate) and Tayler Berridge-Smith (Senior Associate) discuss: terminating in accordance with the terms of a contract; what a force majeure clause is and how it can affect your obligations; what happens when a contract becomes impossible to perform; managing a compliant redundancy process; and redundancy pay obligations. About Ruby Hollinshead Ruby is a Senior Associate specialising in employment and commercial law. She advises NZ businesses on termination, performance management, restructuring, restraints of trade, personal grievances, health and safety, and employment policies. Ruby also assists with commercial contracts across a range of industries. About Tayler Berridge-Smith Tayler is a Senior Associate within LegalVision’s Commercial Contracts team in New Zealand. She graduated in 2022 with a Bachelor of Laws and a Bachelor of Business, majoring in Management. Visit legalvision.co.nz or call 0800 005 570 to get in touch with our team. 🚀 STAY CONNECTED WITH US 🚀 To access more legal information videos to help you run your business, subscribe to our channel:    / @legalvisionlaw   AU WEBSITE ➡ https://legalvision.com.au NZ WEBSITE ➡ https://legalvision.co.nz UK WEBSITE ➡ https://legalvision.co.uk LINKEDIN ➡   / legalvision-group   X ➡ https://x.com/LegalVision_law FACEBOOK ➡   / legalvision   INSTAGRAM ➡   / legalvision_law   TIKTOK ➡   / legalvision.law   Request a consultation by visiting our website or emailing us at [email protected] The information provided in this video is for general informational purposes only and does not constitute legal advice. While we aim to provide accurate and up-to-date content, laws and regulations may vary, and the information may not apply to your specific circumstances. We encourage you to contact us for a free consultation so we can provide advice specific to your circumstances.