I have received the following information from several trusted sources.
The following is now/or will be happening in several areas within the company.
Several years ago, a dispute was resolved by a signed agreement between employees and the company, a major part of the agreement being that the employees would receive retained pay in perpetuity.
The company have unilaterally decided they now wish to renege on this agreement, I say renege because in my opinion I know of no other suitable word.
They have offered a payment equal to 18 months of retained pay to terminate the agreement, employees have until 13th Feb 2021 to accept or decline. You may no doubt be thinking that appears to be a reasonable offer.
However, the sting in the tail is that those who decline will be Dismissed, yes Sacked. But maybe re-engaged in their jobs on new T&Cs and pay structure.
If those that accept leave the company (other than permanent ill health) or transfer to a role which does not attract the retained pay then they must repay, on a pro rata basis, the award payment.
Is it just coincidence that this is happening at a time of rapid rising unemployment due to the Coronavirus Pandemic?
Should staff be dismissed for wishing to honour an agreement?
Is this how this company honours an agreement?
Is this how a British company now treats long serving employees?
Could you, your family or friends be next?