Skip to main content

Co-operative Banking Group: Manchester Car Parks

<< return to NACO News Archive

 

Co-operative Banking Group
Manchester Car Parks

Compensation for loss of future opportunity to use Manchester Car Parks
Colleagues will be aware that announcements were made in the latter part of 2011 in relation to the changes in car park availability, due to the ongoing development of the NOMA site.

Initially this was aimed at those who parked at the numerous sites around the NOMA site. This has now also extended to those individuals who are entitled to contractual car parking in Car Park 1, with effect from 2nd April 2012.

As the ability to access this car park was an element of your contract of employment, discussions have taken place between the Co-operative Banking Group (CBG) and NACO on how to compensate for the loss of this contractual benefit.

A pro-forma has been created by the Banking Group to ascertain car park usage - available for download here. To aid us in reaching a timely resolution to this matter, please do complete this as soon as possible.
 
Trading Group Precedent
You may be aware that similar negotiations took place with the Co-operative Trading Group in 2009 to compensate for the change in contract and this resulted in a payment made to compensate for the future loss of benefit. The amount of compensation was then ‘grossed up’ to ensure that the compensation figure agreed was paid effectively at net value.
 
This principle has been adopted in the discussions with CBG and the final stages of the negotiations should be concluded in the very near future.
 
However, as a result of the announcement of the proposed closure of Car Park 1, many members have adjusted their travel arrangements in advance of the go-live date and this has therefore impacted on the records relating to usage of the facility.
 
NACO has raised concern at this and it has been agreed that members should submit the pro-forma based on their average weekly usage of the facility in 2011. In this way an accurate compensation level will be awarded.
 
If anyone has any concerns or questions regarding this matter please contact the NACO National Office.

 

<< return to NACO News Archive