Want to talk to an expert employment law solicitor?

You'll receive a callback from a specialist within an hour

Chris Hadrill - specialist employment law solicitorThe news on 8 May that Barclays will be looking to make approximately 19,000 positions redundant by 2016 may lead to an increase in the use of settlement agreements and COT3 agreements over that period of time, according to Employment Law Solicitor Chris Hadrill.

The announcement that there will be a further swathe of redundancies at Barclays, with a total of 19,000 positions being made redundant around the world, signals that there may be an increase this year in the use of settlement agreements (formerly known as compromise agreements) and ACAS COT3 agreements to prevent workers that have been made redundant from bringing claims against Barclays (or any other employer that is making redundancies). More than half of the 19,000 job cuts will fall in the United Kingdom, with Barclays’ investment arm Barclays Capital set to lose 7,000 jobs from a workforce of 24,000 as it looks to move away from its traditional area of expertise in fixed income, currencies and commodities and towards advising customers and equities.

“Redundancy” occurs when an employer experiences one of three things and dismisses employees as a result:

  1. The business as a whole closes
  2. The particular workplace where the employee was employed closes; and/or
  3. There is a reduction in the size of the workforce wholly or mainly attributable to the fact that the requirement for employees to carry out work of a particular kind or to carry out work of a particular kind in the place that the employee was employed by the employer has ceased or diminished

The third ground appears to be the applicable one in the circumstances – Barclays and Barclays Capital have experienced tricky trading conditions over the last year or so and are seeking to shift into other areas, thus requiring fewer employees to undertake work of a particular kind.

It is common where redundancies are being made for settlement agreements (formerly known as compromise agreements) to be used to limit the liability of the employer to the employee in terms of legal proceedings. In return, the employer will (normally) provide the redundant employee with some form of financial benefit and provide them with a reference. In order for the settlement agreement to be valid and enforceable, the employee must obtain legal advice from an independent legal adviser on the terms and effects of the agreement, in particular the effect of the settlement agreement on the employee’s ability to submit an Employment Tribunal claim. A useful beginner’s guide for settlement agreements can be found on this website.

COT3 agreements are agreements which are used by ACAS to settle actual or potential Employment Tribunal proceedings – these have and will become more common as mandatory early conciliation for Employment Tribunal claims has just been introduced.

The effect of the wave of redundancies at Barclays may see the use of settlement agreements and COT3 agreements between employers and employees rise between now and 2016. However, we’ll have to wait and see what the actual effect of these redundancies at Barclays (and other institutions) will be.

About

Redmans Employment Team deal with employment matters for both employers and employees, including drafting employment contracts and policies, advising employers and employees on compromise agreements, handling day-to-day HR issues, advising on restructures, and handling Employment Tribunal cases for both employers and employees Call 020 3397 3603 to speak to one of the members of our employment team or email us on enquiries@redmans.co.uk. Redmans have offices in Richmond, Chiswick, Hammersmith, Fulham, Kingston, Wimbledon, Ealing, Kings Cross and Marylebone (meetings strictly by appointment only).

Want to talk to an expert employment law solicitor?

You'll receive a callback from a specialist within an hour

Share →

Our awards

Request a callback

Your name

Your email

Your telephone number

Contact us

Please feel free to discuss your own position and concerns. Contact your nearest office on:

T: 020 3397 3603
E: enquiries@redmans.co.uk
W: www.redmans.co.uk

Testimonials

4.72 Average

89 Reviews

Anonymous

I requested Redmans services on a redundancy case. Both Chris and Rana were great, thoughtful, very professional and responded quickly. They were very clear throughout the entire process, regarding the process and my options and I couldn't feel I had better legal advice for my case. Overall excellent service and I would certainly recommend and use their services again.

Posted 1 day ago

Anonymous

Responsive, patient, thorough and personable - an excellent service.

Posted 4 days ago

Anonymous

The team at Redmans, Chris Hadrill and Sacha Barrett were always very helpful and had expert knowledge to assist me during my employment law matter, I would not hesitate to recommend them to all!

Posted 4 days ago

Arun T

Chris was punctual, attentive and accurate. He answered my questions with clarity and avoided dubiosity. I would recommend him to anyone seeking legal advice within his remit.

Posted 5 days ago

Yulian Z

Great service

Posted 5 days ago

Anonymous

Excellent, professional service and a speedy resolution. Many thanks

Posted 5 days ago

Taral P

Sacha and Chris were both very helpful in closing out my matter. Sacha was very clear in helping me understanding the documents I needed reviewing, providing a professional service throughout.

Posted 5 days ago

Anonymous

Really pleased with the swift and professional service from Redmans. They provided very clear advice and helped conclude my matter with the minimum of stress or delay.

Posted 5 days ago

Matthew L

Redmans were very quick to respond to my initial enquiry, and provided me with a very effective and efficient service, generating a most satisfactory outcome. I would definitely use them again if the need arose.

Posted 6 days ago

Anonymous

First rate service. Warm and friendly whilst exceptionally efficient at the same time. I would highly recommend them.

Posted 6 days ago

Anonymous

Professional and helpful. Thorough and supportive.

Posted 6 days ago

Richard A

Excellent service, prompt replies, great advice

Posted 6 days ago

Anonymous

Very professional services

Posted 6 days ago

Margaret

Redmans Solicitors took a lot of the worry away and were very thoughtful and meticulous in their dealings with my case , thank you very mush , great service and a great job

Posted 1 month ago

Mark B

Prompt efficient service. Hourly, and part thereof, billing got a bit stressful at times - as opposed to flat fee - made me think twice about sending an email or making a quick call when I had a query because it would have eaten up minutes from my budget. But happy with the legal service I received overall and would recommend.

Posted 1 month ago

Anonymous

Chris Hadrill has provided a truly wonderful service and was willing to lend his support and expertise at a time when other solicitors, only wanted to discuss their fees! A clear thinking and down to earth professional, Chris can be trusted to listen carefully to your matter, cut through the fog, and advise you on the best (and most realistic) way forward, saving you time, money and heartache. It will be helpful if you first get your ducks in a row in terms of documents / evidence etc. and then contact Chris, (that’s what we did) as this will help your matter to be dealt with faster. The more organised and together you are the more successful you will be. You'll be fine with Chris, I highly recommend him. Good luck!

Posted 1 month ago

Richard v

Excellent Service

Posted 1 month ago

Anonymous

Very happy from service received. Highly recommend

Posted 1 month ago

Colin W

Very professional and thorough. Sachs who dealt with the bulk of my case was excellent Thank you. .

Posted 1 month ago

Anonymous

I was generally impressed with the fast turn around, efficiency, responsiveness, and consideration of circumstances. I needed a couple of areas of advice quickly and with Redmans help was able to get to a conclusion quickly and with minimum stress. They were friendly and professional throughout - I'd use them again.

Posted 1 month ago

Anonymous

The guidance and assistance I recently received when using Redman's was fantastic. Caroline & Chris were both very informative and understanding walking me through each step. Thank you.

Posted 2 months ago