TUPE?

[Goksly]

Ok so just had a meeting with my manager that the company is restructuring and some of the departments are being grouped together into a separate company. The owners of the new company are the same as the old, all terms are stated to be the same. Pension offering (one of the few things that can be "adjusted" going forward) will be the same.

So on the face of it, nothing to worry about. Having done some reading up about it, well there doesn't seem to be any positives - but there doesn't seem to be any negatives either with the exception of perks might not be the same going forward but the company doesn't offer many of them anyways.

Anyone been through it? Anything to be concerned about? I've known the owners for a long time and am fairly comfortable that they're being straight with me. No redundancies planned, I feel my role is pretty safe with the vision of where the company is going etc. But equally I can't help but think that this is a lot of hassle, paperwork, time and money to do so they wouldn't go through all of this for no reason?

 

[Goksly]

If it's a new staging company owned by the old company my assumption would be that they're packaging you up as a new entity ready for a potential sale?

Not sure that is the case, at least for the company we're going to become. It's mainly the supporting aspects being grouped, so they wouldn't provide any benefit to another company... However I get what you mean from the other point of view, as it makes the rest of the business fairly streamlined?

 

[Goksly]

What exactly are they doing? Just a re-org or change of company type?

re-org I think... Basically they've been spinning off various aspects of the business for years now, still retaining ownership but standalone businesses. I guess we've got to the point where there is nothing else to spin off except for the main company itself, which will be left and all other aspects spun off instead. The new company I'll be apart of will be a zero profit company.

 

[Goksly]

Yeah so having read various articles and looking at the advice here I think ultimately there isn't really much to be done - or needed. The terms of employment will be identical and my terms of employment will be a continuation, so no break in service. So the only two options would be to agree and sign, or hand in my resignation. So yeah, I guess if there are any hidden reasons for this it will come out in the wash, but just hope it's all for the right reasons! If you see me post a "look at my CV" post, well you know which way it's gone