Sir Philip Green’s Arcadia Group used the government scheme to cut notice period pay by up to 50 per centSir Philip Green’s Arcadia Group has made an embarrassing climbdown and agreed to pay dismissed staff in full after The Times revealed how it was using a loophole in furlough rules to withhold pay. The mogul’s retail group said it was “extremely sorry” after planning to use a government scheme aimed at protecting jobs to allow it to slash notice period pay by up to 50 per cent. The Times exposed on Saturday how the company was using the government’s jobs retention scheme to slash the cost of dismissing 300 head office staff despite taking millions in government handouts. The company had accepted tens of millions in taxpayer funds to furlough employees and indicated it would take millions more in job retention bonuses in January.

Source: The Times September 13, 2020 23:06 UTC