Temporary Cessation of Operations: An Option to Weather the Downturn
RELATED PRACTICE AREA
Bangkok Post, Corporate Counsellor Column
March 13, 2009
Under the current period of global economic recession when there is a decline in consumption and therefore a reduction in trade, many businesses are trying to find ways to survive. In Thailand, company management often considers the option of whether to temporarily cease business operations when faced with dire circumstances. This is because an employer, when dealing with a period of reduced purchase orders and\or a decline in market consumption for its products, can legally apply this measure to save costs rather than close the business and\or terminate employees.