Employer selling workplace as franchise....implications?

Hi all, hope someone can give advice here. Today, my employer has announced plans to transfer a great number of it's workplaces (mine included) as franchise businesses. Now I have worked for my current employer for 8 years now, and am very anxious about the prospect of working for a small private entity with reduced job security. What if anything could change? We have VERY sketchy details at the moment but I am really worried. Anyone else been through a similar situation?

CC limits £26000


Long term CC debt £0

Total low rate loan debt £3000

Almost debt free feeling, priceless.

Ex money nightmare, learnt from my mistakes and never going back there again, in control of my finances for the first time in my adult life and it feels amazing. 

Comments

  • Unless they are closing the ssection of business down and re-starting it from scratch, they would do a TUPE transfer I believe. should have same "conditions" as previous employer though as you say, can't gaurantee job security long term I suppose!
  • Cheers warmhands, I have now looked into it and like you say I would be protected by TUPE regulations as far as pay etc are concerned, I just really am not looking forward to working for a new company so to speak.

    CC limits £26000


    Long term CC debt £0

    Total low rate loan debt £3000

    Almost debt free feeling, priceless.

    Ex money nightmare, learnt from my mistakes and never going back there again, in control of my finances for the first time in my adult life and it feels amazing. 
  • If you are going over to franchise which does not have your interest at heart and they could get a worker to replace you for cheaper, say of have had pay rises and are taking home £18,000PA and by getting rid of you and replacing you they could have someone doing the same job for £16,000PA, once the job security agreement is over knowing how franchises work they will find a way to get rid of you to save £2000 per year.

    If find Tupe a very unfair treatment of staff. Once the deal has been completed you lose Job security. My advice to you is as unfair it is, is to start looking for another job
This discussion has been closed.
Meet your Ambassadors

Categories

  • All Categories
  • 342.4K Banking & Borrowing
  • 249.9K Reduce Debt & Boost Income
  • 449.4K Spending & Discounts
  • 234.6K Work, Benefits & Business
  • 607K Mortgages, Homes & Bills
  • 172.8K Life & Family
  • 247.4K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.8K Discuss & Feedback
  • 15.1K Coronavirus Support Boards