|My question is how to calculate a buy-out of existing terms & conditions of employment: Is it usually calculated on difference of annual salary between existing T&Cs and new T&Cs x number of years' service or is this calculation at the discretion of the company?|
|We assume that this question has arisen in the context of a transfer of undertaking within the meaning of the European Communities (Protection of Employees on Transfer of Undertakings) Regulations 2003 (the “Regulations”) having occurred. One of the principal consequences of a transfer of undertaking is that the rights and obligations owed by the transferor to those employees who are employed wholly or mainly in the business or part of a business transferring transfer to the purchaser. Therefore, the Regulations require the purchaser to replicate transferring employees’ terms and|
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