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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).

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Testimonials

4.77 Average

132 Reviews

Stephanie H

Clear, prompt, effective support from Chris which has been very much appreciated. Thank you again.

Posted 1 week ago

Anonymous

I would highly recommend Redmans Solicitors, the team were very friendly and my case was dealt with professionally and efficiently. Thank you!

Posted 1 month ago

Shane M

Very professional, welcome advice at a crucial time. Always available and reasonable cost.

Posted 1 month ago

Anonymous

My case was relatively straight-forward. But even so, working with Redmans was easy, quick, professional & clear. Many thanks

Posted 1 month ago

Anonymous

The team were very helpful and answered all my questions regarding my redundancy. Initially I had a call with one of the representatives who escalated my request to a suitable employment solicitor. We arranged a call to discuss the settlement and she helped answer all my questions. We then mainly contacted through email which helped resolve the settlement quickly and convently. Thanks for all the help.

Posted 1 month ago

Djaouida T

You have good communication.

Posted 1 month ago

Anonymous

Fast and professional. A highly recommended company for employment related issues.

Posted 1 month ago

Anonymous

Very professional service.

Posted 1 month ago

Brittany

I was very grateful for Redmans to treat my case with respect and discretion. At the time, I was very new to London and it was meaningful to have someone on my side and win the case for me. Without any doubt, I would definitely recommend Redmans Solicitors to anyone who is in need of it.

Posted 9 months ago

Jake L

Chris is very professional and calm. Very attentive and patient, been a positive experience having Chris represent me, and would recommend him.

Posted 10 months ago

Anonymous

Excellent service. It was a pleasure to work with Chris H, who is brilliant at what he does and very efficient. Their Senior Associate Rana T. is also very knowledgeable and resolves any queries speedily and efficiently. My issue could unfortunately not be resolved, but that was due to my employer and not the firm. Redmans however did all they could. I would definitely recommend them.

Posted 10 months ago

Anonymous

Very pleasant and quick to deal with. Mnay thanks.

Posted 10 months ago

Anonymous

Easy to get hold of. Quick.

Posted 10 months ago

Owen J

Very helpful, efficient service.

Posted 11 months ago

Anonymous

I am very lucky that I worked with Mr. Chris Hadrill and he managed my case very progressively with an analytical approach and trustfully. Of course with a very positive result. I strongly recommend Mr. Hadrill to any one seeking for a successful result from a highly qualified solicitor.

Posted 11 months ago

Kulbir S

Amazing, quick friendly service from Chris from the start and Caroline. They made me feel at ease during a difficult time, they understood and advised accordingly and I am really happy with the outcome of my case. Will always advise anyone who needs legal advice to contact Redmans, I’m so glad that I did and can confidently say I don’t think any other firm could have handled my case any better. Well done guys, wish you all the best and please keep doing what your doing, simply the best!

Posted 11 months ago

Mark A

Excellent service - rapid and “to the point” advice given to ensure meeting the target time frame

Posted 11 months ago

Anonymous

Chris Hadrill kept me sane during the negotiations with my employer. He was courteous professional and he cared about doing the best he could for me. I will use Redmans again if ever I need an employment solicitor. Excellent service.

Posted 11 months ago

Muhammad Z

Awesome services. Professionals at their best .

Posted 11 months ago

Anonymous

Thanks for the advice and for negotiating a good outcome. Good to have the support at a very stressful time

Posted 11 months ago

Chloe F

My solicitor at Redmans was very helpful and efficient. Really pleased with the smooth service.

Posted 11 months ago