The financial cost of redundancies

Read this BBC article, and answer the following questions

Q1) Why can redundancies be seen as a 'quick fix' for businesses with financial problems?

Q2) What problems may a business face it if tries to make employees redundant.

Q3) What alternatives can a business take instead of making employees redundant?

Q4) What sort of 'statutory and contractual obligations' can a business face?

Q5) Identify a strategy for change management in this article.