In exchange for shares between £2,000 and £50,000 which will not be taxed, employees will be given the 'voluntary' opportunity to sacrifice their right to:
- Fight unfair dismissal
- Redundancy pay
- fFexible working
- Time off for training
- Eight weeks 'return to work' notice after maternity leave - instead 16 weeks will have to be given
Why will this affect me?
Although it is mostly going to affect full-time workers, it is possible new part-time workers could be encouraged to swap rights for shares - such as you, low on pennies at Christmas.
Mostly, however, this is going to coincide nicely with graduation. As you're job hunting, employers are going to be getting comfortable with the legislation and it's highly likely you will be encouraged to choose between taking a job or keeping your rights.When? This was announced on Monday and according to The Independent the proposal is going to be 'rushed through Parliament' and will be in place as early as April 2013. Why? Osborne is following the advice of the somewhat draconian Conservative Party donor, Adrian Beecroft - an advocate of allowing firms to 'fire at will'.
- Article continues below...
- More stories you may like...
- This Week in Gaming: Gaming Disorder becomes an official disease
- Research reveals the top 10 things holding back women at work
- Universities must do more to tackle the BAME attainment gap, report says