I have a bit of a situation here which is causing me some sleepless nights.
Basically, I have been business partners with another guy for the last 3 1/2 years, in an electrical maintenance company. We employ 3 others, and up until about April, work was plentiful, and we were making good money. We then lost a couple of the contracts, and the workload has dried up so that it needs about the equivalent of 2 - 2.5 people. We do however need 3 people ot cover the callouts on a rota, and any other work which comes in. There is no longer the work in the office to cover both of us being in there though, so we are effectively sitting around with 2 out of the 5 not being used, and watching the bank balance dwindling.
So I made the decision that I would leave, and let my BP buy me out - the money saved on my wages, dividends, NI, diesel, insurances etc, would save enough to restore the bank balance, and make the company profitable again. I’ve got an offer of a job driving, which will be a similar level of pay to what I’m on now.
However, I now find out that the BP is using this as an opportunity to cut the pay of the 3 guys by 20%, under the proviso that if they don’t agree, there will have to be a redundancy. This is despite having picked up a load of new work (I only found out about this when I got an email mistakenly sent to me, rather than him - he’d kept quiet about this when we were negotiating a buy-out price). I’m not worried about this from my point of view - a bit ■■■■■■ off that he decided to keep it quiet, but more annoyed that he’s getting too greedy and wants to screw the guys into the ground so that he can maintain his lifestyle.
I don’t know that I can do anything legally, as I’m no longer part of it, or even whether I should get involved, but it really does ■■■■ me off that the 3 guys are being used to fund his wages - he’s already said that he won’t cut his pay or even move premises - he has an option to get out of the leased unit and go back to doing the office work from his home office which would save about £1400 per month in direct costs.
What would you do in my situation? - ■■■■ out, try to intervene on behalf of the guys, advise them from the background?
It’s an odd situation for me - all my life I’ve voted Conservative, now as I get older I find I’m moving over to the left considerably!
Gary