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Adrian Crawford, Partner in Employment was quoted in the Financial News in an article discussing the 2020 bonus round under the heading Lawyers brace for banker bonus backlash: 'This round will be more fraught than usual'. The article focuses on the bonus season as bank bosses have a particularly delicate balancing act. Adrian highlights the implications this might have from an employment perspective on employee bonus when in notice period and the potential for rise in unfair dismissal or discrimination cases.
Adrian quoted:
"The politics of this year's bonus round will be more fraught than usual," said Adrian Crawford, a partner in the employment practice at Kingsley Napley.
"With banks being careful not to be seen to be paying out lorry loads of cash to their staff, it is likely to skew payments even more towards the best performers."
"Most contracts stipulate that any bonus is discretionary, and that banks are not obliged to pay them when an employee is serving a notice period," he said.
"It is usually easier to take the redundancy payment and move on, but this will be harder to swallow this year. We would expect to see more unfair dismissal or discrimination cases emerge early in the year."
Further information
If this is an area which concerns you please feel free to contact Adrian or any member of the employment team.
About the author
Adrian Crawford is a Partner in our Employment Law team. Adrian has a particular focus on the City, financial and professional services and he advises employers, partnerships, partners and senior employees.
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