advice please

daylad

I think my boss is selling the company i have worked for, for 22 years, i have no idea who is buying the company as yet, but can they re employ us under a new contract, new hours pay etc, and can they make us redundant with out giving us our full redundancy money? thanks

steampowered

Most transactions like these are structured by someone else buying the shares in the company from your boss.

In this situation, your employer remains the company. Your employer hasn't actually changed, and you would remain employed by the company on the same terms. It is possible the new owner might wish to change terms or make you redundant but in this case the company would be liable for redundancy pay (in exactly the same way as if the current owner wished to make you redundant).

If the business is being transferred from one company to another company (rather than the shares in the company), your employment would transfer to the buyer under TUPE, and you'd keep the same terms.

TBagpuss

If the business is sold than the new owner takes over your contracts - the exact mechanism will depend on the specifis of the sale - i.e. whether the company is taken over (in which case your contracts transfer to the new company under TUPE) or whether it is that your current employer is a company, and it is the company which is being bounght (in which case the comapny is still your employer)

Either way, if you are made redunant then your full 22 years service will be counted.

The new owner may seek to change some of your contract terms - you would have to check your curent contract of employment - some things (such as the spcific hous you work) may be something which the employer can change up to a point at their discretion anyway. Other changes would need to be agreed, and it would then be down to the specifcis as to whether or not the proposed changes are reasonable, and what steps the employer could take if you refused toagree to them.