Originally Posted by
Silverado
Nothing more than IR speak. Read, we can't officially make a decision until after we meet our obligation to "consult" with the affected employee groups. After which, we will come to the decision which we have already made.
These kind of clauses make more sense for smaller changes to how a company operates, where it is genuinely possible and a good idea to consult affected employees.
They don't really work for decisions like this. A decision to cease operations and shut up shop isn't really one that a company can shop around with all of their staff, without massively spooking their customers and investors - which would probably make the outcome into a foregone conclusion anyway. Who would book flights on an airline, when it is asking its employees whether it should cease operations?
But, if there is no exception to the clause, then 'consultation' legally has to happen.