We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Is a stakeholder agreement actually worth anything
stickfighter
Posts: 1 Newbie
Hi all,
my company has issued 90 days notice of intention to change our contracts massively. The 90 days is up this 25 May and implementation is due to start by Sep after one to one consultaion ( take it or leave ). The company have offered severance pay for those unable to change to the new t & c however, the payments for severance do not even match up to what is specified in the stakeholder agreement. Company says they don't care, it's not a binding agreement take it or leave it. In the last month redundancy has occurred in some departments and payments were way over staturory entitlement but severance is being offerred at bare minimum. I for instance after 25 years service would only receive around £7000.00
Can they legally ignore the stakeholder agreement? Union (unite) says they can but not sure our stewards have actually saught legal advice.
Any advice appreciated.
my company has issued 90 days notice of intention to change our contracts massively. The 90 days is up this 25 May and implementation is due to start by Sep after one to one consultaion ( take it or leave ). The company have offered severance pay for those unable to change to the new t & c however, the payments for severance do not even match up to what is specified in the stakeholder agreement. Company says they don't care, it's not a binding agreement take it or leave it. In the last month redundancy has occurred in some departments and payments were way over staturory entitlement but severance is being offerred at bare minimum. I for instance after 25 years service would only receive around £7000.00
Can they legally ignore the stakeholder agreement? Union (unite) says they can but not sure our stewards have actually saught legal advice.
Any advice appreciated.
0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.2K Banking & Borrowing
- 253.6K Reduce Debt & Boost Income
- 454.3K Spending & Discounts
- 245.2K Work, Benefits & Business
- 600.9K Mortgages, Homes & Bills
- 177.5K Life & Family
- 259K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards