Restructuring is the only way
This developing business had to cut costs following the loss of a strategic investor - a casualty of the economic crisis. The company had an exciting and proven product that was being installed successfully across the globe. Another strategic investor insisted that costs needed to be cut. After a complete review, it was identified that the required cost reduction could be achieved by closing the office in Singapore.
Staff consultation sought to identify alternatives, but eventually the decision to close the office was made. The loyal staff in the region would have to be made redundant. In all likelihood, most would soon be working for competitors or suppliers. This may be a global market, but it is a small community. The CEO agreed that although this was a painful decision for everyone, he wanted to ensure that there was respect for those being made redundant, communications would be fair and consistent. The remaining business would also have to be restructured, so it was important that this approach applied equally to staff who would remain.
You know you have done your best for all those involved when someone you had to make redundant contacts you and asks for your help in another similar situation few years later.