Lauren Leyden Quoted in Private Funds Management on Tips for Terminating an Employee
Akin Gump labor and employment partner Lauren Leyden has been quoted in the Private Funds Management story “When it’s time to say goodbye,” regarding best practices when a private equity firm has to fire an employee.
Leyden said private equity firms often have little experience with terminating employees because many people “end up leaving after receiving, for example, a lower than anticipated bonus.” When problems do arise, she suggested that an employer document any discussion of performance issues and include it in an e-mail to the employee.
Once someone is terminated, Leyden said it’s important to make a brief internal announcement as soon as possible. “We find people are less likely to gossip or that gossip ends quickly,” she said, “when the message from management is simply that the person is no longer an employee.”