What is the best way to handle the PR of a restructuring plan?
Answers
You will need to add some more clarity on your question as to what stage you are in for the restructuring activity, i.e. restructuring has yet to be initiated OR restructuring has already been initiated. Also there will be different communication plan and strategy for both the internal and external communications. Both of these have to be handled carefully. Also you need to consider the fact some of the internal communications might also leak out to the open public so you need to factor in what all you can share with your employees.
Also I will like to point out that you might also need to address the future disclosures relating to the restructuring activities in the MD&A and financial statements if it is material event. The key issue investors want answers for is that amount / timing of the recorded liabilities and impact on future business and EBITDA, etc. What you communicate to anyone outside your company might also need to be included as a disclosure in the financial statements.
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Most communication of restructuring I have seen don't pass the test of honesty. As in all things, honesty is the best policy. Additionally, most of the communications I have seen read like they were written by an attorney, which just raises the BS factor. Short, sweet and honest. The reader will appreciate that fact that they don't have to read between the lines to understand the true intent of the restructuring.