If your employer has offered you a compromise agreement, otherwise known as a settlement agreement, you may be feeling a range of emotions – shocked about being asked to leave your role, nervous at the prospect of facing unemployment and concerned about your financial security.
If you have decided to sell your business, then there will be many different things that you need to consider both from a financial and personal point of view. However there are also many legal responsibilities to consider and these are what we will look at here.
TUPE stands for the “Transfer of Undertakings Regulations” and they are designed to protect the rights of employees when their employer changes, when the business is sold or the job is outsourced to a different organisation. These regulations were revised in January 2014. Here we will look at how TUPE affects employers and employees.