In this episode of the Proskauer Brief, partners Steven Hurd and Patrick Lamparello discuss recent trends in reductions in force (RIFs) in financial services and some of the main reasons employers are engaging in them. These include automation of jobs or other technological developments, cost reductions, investor preferences, employee redistributions, and even Brexit has been a reason for downsizing. So be sure to tune in as we discuss best practices an employer can engage in to carry out a RIF as well as practical alternatives an employer can consider to a reduction in force.
Patrick Lamparello
Patrick J. Lamparello is a partner in the Labor & Employment Law Department, who devotes his practice to representing employers in federal and state litigations, arbitrations and administrative proceedings, as well as counseling clients in employment matters.
Patrick has significant experience representing and counseling clients in the financial services industry, including hedge funds, private equity funds, investment banks and other investment advisors. In addition to his financial services industry focus, he also provides counseling and representation to clients in such diverse industries as utilities, retail, sports and entertainment as well as restaurants and other law firms.
Patrick represents clients on a wide variety of labor and employment matters, including employment discrimination, sexual harassment, retaliation, wrongful discharge, defamation, breach of contract, whistleblowing and wage-and-hour issues. He has appeared on behalf of clients in proceedings before the Financial Industry Regulatory Authority, the National Association of Securities Dealers, the New York Stock Exchange, JAMS, AAA and in state and federal courts. Patrick has successfully tried single-plaintiff cases in both arbitration and in court, on matters including allegations of failure to pay overtime compensation and has experience handling class and collective action lawsuits.
In addition, Patrick provides counseling to employers with respect to a variety of employment related issues, including management of personnel problems, terminations, investigation of employee complaints, employee benefit plans, employee handbooks and employment/labor law due diligence with respect to IPOs. He also conducts wage and hour audits under federal and state wage-hour laws.
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