Past perks permitted?
Q. Are we obliged to continue a staff performance bonus scheme in a firm we are acquiring?
You do not make it clear as to the basis upon which you are buying this business. One possibility is that you have bought the shares, if it is a limited company, or that you have simply bought the assets. If it is the former, then there has been no change of employer and the existing employment contracts remain as they are.
If you have a genuine reason as to why employment terms should be changed, you can enter into a negotiation process with the employees. If the staff will agree, the contracts
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