Why is ABRDN in the news?

Recent announcements by ABRDN have included the closure of their Aberdeen office with staff working remotely instead, £150mn in cuts and 500 redundancies. Our employment law solicitors are highly experienced in advising employees at risk, particularly in the financial services industry. We are often recommended as independent legal advisers to employees facing redundancy. It is not unusual for us to see the real impact of headlines such as those concerning ABRDN employees, just a short while after reading about them. We hear first-hand about the concerns and stress experienced by affected employees and will always do our best to relieve those worries and support employees using our specialist knowledge and experience of redundancy.

What do I do, if I am placed at risk of redundancy?

There is no doubt that being placed at risk can be a challenging and unsettling experience. Knowing your rights and the steps you should take to navigate this process effectively, can help reduce stress levels and give you a sense of greater autonomy in a process which can sometimes feel out of your hands. Here are key actions, for employees affected by recent cuts at ABRDN to consider:

Key actions for employees

Engage with your employer to explore resources offered: ABRDN may offer particular resources or programs for affected employees, such as career transition services (also called ‘outplacement counselling’), or financial planning assistance- these can be a very helpful source of support. It is advisable to find out about additional resources at an early stage of consultation so that you can consider what is on offer.
Understand Your Rights: Familiarise yourself with your legal rights regarding redundancy. This includes your entitlement to a fair selection process, notice period, redundancy pay, and the right to be considered for suitable alternative employment within the company. Our previous blog posts are very helpful in outlining your rights.
Consult Your Employment Contract and Handbook: Review your contract and the staff handbook for any terms related to redundancy, including notice periods and any enhanced redundancy pay.
Participate in Consultation Meetings: involve yourself fully in any consultation meetings. These meetings are an opportunity to discuss the reasons for the redundancy, any alternatives to redundancy, and how the process will be managed.
Consider Alternative Employment: Explore the possibility of alternative employment within your current company or externally. Your employer should support you in this process.
Take advice: In some circumstances employers offer enhanced payments, conditional upon employees entering into a settlement agreement. This requires employees to take independent advice, something which we specialise in providing.
You will know if this is applicable to you if you are invited to a ‘protected conversation’ which can often occur with little to no notice from your employer.
Read these blog posts for more information on settlement agreements and protected conversations to arm yourself with useful information in advance.