One of our clients, a fast-growing UK fintech, realised redundancy was on the horizon, and wanted support in handling the process with as much expertise and tact as possible. This was a large redundancy project whereby headcount would be reduced by 10-20%, meaning the client needed experienced employment lawyers who had been through this process before.
As a result, we stepped in to support the company, and its people. We work with clients on a range of matters, from day-to-day legal support to more challenging projects. At times, some matters can be sensitive in nature, which is why confidentiality is key.
This client was kind enough to agree to take part in this case study but has opted to stay anonymous. As a business with a passion for protecting its people – and their integrity – this is a choice that best suited them. As a result, we, unfortunately, can’t tell you much about the business itself, but we can tell you, that it’s a brilliant one, inside and out.
Our client needed employment law expertise to handle their redundancy process – but they needed a little more than that. As a large-scale business, our client needed someone who could balance the commercial needs of the company (including the impact on both the staff directly affected and those who would remain), against the legal risks, to ensure the solution was the most commercially sound option on the table.
As a result, it was crucial that we worked closely with the company to help design a solution that worked commercially but mitigated legal risks as far as possible. This client wanted to handle the process as quickly and smoothly as possible, which meant that we would need to clearly outline the various options available and help guide the business towards choosing the best one.
We set out our plan to mitigate the legal risk that arose from the process, and the client trusted us to execute it.
As employment law experts we understand the fine balance between empathy, pragmatic thinking, and legal risk. This particular client chose us as a result of our experienced approach to the situation and our ability to prioritise the commercial strategy while still mitigating the legal risks.
By working closely with the client, we were able to successfully conclude the redundancy process within the required timeframe and without any major issues. All affected employees exited smoothly and with no further issues, and we were able to ensure that the process was as straightforward as possible for those running it and had minimal impact on the remaining employees which was a key goal for the client. We assisted with overall strategic planning, as well as providing legal documentation and scripts for managers, and providing ongoing support to the client throughout the process.
Our client was able to achieve their strategic objectives without an additional legal cost through claims or disputes with affected employees. Now, the business can move forward with the confidence that it has done best by the commercial strategy, its exiting staff, and the members of the team that remain with the company.
The employment team at Stephenson Law was instrumental in the process, guiding us on strategy and execution. They understood our motivations (focusing on speed, sensitivity and treating our people fairly and with compassion over short-term cost savings) and designed a suitable solution accordingly. The planning was thorough and allowed us to execute smoothly and relatively painlessly.
Fast-Growing UK Fintech