Item - 2020.RY6.5
Tracking Status
- This item was considered by TO Live - Human Resources and Stakeholder Relations Committee on October 21, 2020 and was adopted without amendment.
RY6.5 - Voluntary Separation Program - TO Live
- Decision Type:
- ACTION
- Status:
- Adopted
- Wards:
- All
Committee Decision
The Human Resources, Compensation and Labour Relations Committee recommends that the Board of Directors of TO Live:
1. Approve the implementation of a Voluntary Separation Program, which has the same terms and conditions as the Voluntary Separation Program at the City and will be extended to TO Live staff who are eligible for retirement with an unreduced pension to provide for:
- a lump sum payment of one month's salary per completed year of service to a maximum of three months;
- payment for ancillary vacation and sick leave, if applicable; and
- a proposed departure date of no later than December 31, 2020.
2. Subject to approval of Recommendation 1, forward its decision to the City's Executive Committee through the Budget Committee, for information.
Origin
Summary
The purpose of this report is to seek Board approval to offer a Voluntary Separation Program (VSP) for TO Live staff, similar to the program offered by the City of Toronto.
Background Information
https://www.toronto.ca/legdocs/mmis/2020/ry/bgrd/backgroundfile-157664.pdf