DavSki153
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| posted on 1/3/21 at 03:44 PM |
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Company to boycott in the north?
https://www.bbc.co.uk/news/uk-england-56213042
Just read this article from the BBC. Horrible company and the mentality behind this baffles me.
"It's never been easier or cheaper for businesses to borrow money than it is at the moment during the pandemic, but this business,
Tomahawk, want it for free and they have solved their cash flow problem by giving a cash flow problem to their staff"
[Edited on 1/3/21 by DavSki153]
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MikeR
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| posted on 1/3/21 at 04:37 PM |
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I see it as one of two things, horrible directors chancing their luck OR a desperate company trying one last throw off the dice. Either way the
employees are going to suffer 
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coyoteboy
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| posted on 1/3/21 at 05:15 PM |
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Aye, I mean the net result *could* be the company folds and they're left jobless and without furlough. Not all companies can get a loan easily,
and maybe it was mis-managed previously and they're all out of cards.
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femster87
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| posted on 1/3/21 at 07:04 PM |
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quote:
Originally posted by coyoteboy
Aye, I mean the net result *could* be the company folds and they're left jobless and without furlough. Not all companies can get a loan easily,
and maybe it was mis-managed previously and they're all out of cards.
Good, shocking way to appeal to staff for some funding support to stay afloat. What are the loan terms, how are they going to payback?
To threaten then with the sack if they do not co-operate in my view is extortion
www.femsoncuts.co.uk
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Mr Whippy
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| posted on 1/3/21 at 08:06 PM |
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I think a lot of companies will also be telling their staff you will continue to work from home or they're will be redundancies...
When in fact it's more like, we like this new cost saving measure of no more office leases, no more office furniture, no more heating or
electricity bills... The staff will deal with all that with no compensation, but we will monitor their computer use so there's no slacking!
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snapper
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| posted on 1/3/21 at 08:17 PM |
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If the statement is true then it is akin to blackmail, if the staff were fired then it is a clear breach of employment law and would be considered
unfair dismissal.
I do think it is a last roll of the dice for the company and if they are that close to folding then lending them money would be high risk for the
employees money which in the event the business folded they would have no it little right to recompense.
The loan would be unsecured and as someone who has recently received a settlement from a company that went bust 7.4p in the pound was a very small
amount. For me it was on a small amount of debt but others had not received their purchases and were owed £3000 of which they received £222 ouch
I eat to survive
I drink to forget
I breath to pi55 my ex wife off (and now my ex partner)
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russbost
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| posted on 3/3/21 at 09:15 AM |
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quote:
Originally posted by snapper
If the statement is true then it is akin to blackmail, if the staff were fired then it is a clear breach of employment law and would be considered
unfair dismissal.
I do think it is a last roll of the dice for the company and if they are that close to folding then lending them money would be high risk for the
employees money which in the event the business folded they would have no it little right to recompense.
The loan would be unsecured and as someone who has recently received a settlement from a company that went bust 7.4p in the pound was a very small
amount. For me it was on a small amount of debt but others had not received their purchases and were owed £3000 of which they received £222 ouch
If the company folds then they'll be dismissed anyway, fairly or unfairly. If they've been on furlough at 80% pay then getting back to
work on 90% would surely be better than losing their jobs, so looked at that way & on the face of it sounds like a good deal BUT........
HOWEVER & it is a major however, it does seem a very peculiar thing to ask - if they are to be open & trading, therefore presumably making a
profit they pay NI & pension payments in arrears on hours worked/salary earned so there shouldn't be any shortfall
The very fact that they are asking for this money seems very odd indeed, suggests there is a huge debt with back payments owing? Quite likely given
the current circumstances, they may owe 10's of thousands in rent, but then surely better to ask landlords to discount the rent for the time
they've not been able to trade or agree a payment plan to gradually pay off arears
Whole thing suggests something underhand going on .....
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