Raoul Parekh, partner at law firm GQ|Littler said: “The vast majority of businesses want to do right by their employees. However, on rare occasions they are faced with the difficult decision of either changing terms and conditions, letting go of employees or simply going insolvent.
“It is better for employers to preserve some jobs rather than everyone becoming unemployed as a result of the business going under. Given the exceptional circumstances presented by Brexit, the pandemic and now rising interest rates and inflation, there may be more cases like this in the coming months.
“Unfortunately, a small number of employers do behave unreasonably and either breach the law or fail to engage properly with employees. While the existing code won’t change the law as such, it will make the risks of doing so more severe. This should benefit both employees and those employers who are already doing the right thing.”
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