It is likely that some employees will have to be made redundant as part of the process of restructuring and streamlining the business but there may be a concern that staff vital to the business going forward may decide to leave.
If employees walk out they will lose any employment rights and will not receive any redundancy or lieu of notice payments from the company or the Government. They may not be eligible for unemployment/job seekers benefit. Therefore, they often stay.
If they have a new job to go to there is little however to be done to stop disgruntled employees leaving. But if the employees can be involved as part of the recovery – perhaps by offering a share package or other incentive as part of the long term strategy, the key employees may be retained.