Sale of Business
NACO understands that the Group Board has given their approval for the sale to take place however, due to commercial sensitivities, the details of the preferred purchaser is unlikely to be known before the beginning of August.
As you will have learned from the recent briefing, the vast majority of your existing Terms and Conditions of Employment remain intact, although others such as Pensions and the Employee Membership Discount arrangements will alter.
Another important detail to be noted is for members who may well have "Banked" holiday if they have been a member of the Group prior to 1999. All details of any such holiday need to be passed to Harry Purewal of HR by 5pm on Thursday 24th July. If you don't have documentary evidence, please ensure that you advise Harry of all entitlement you believe you should have, as it's clear by asking you for this evidence, the business information regarding this is going to be unreliable. If any issues arise following the 24th July, please contact the NACO office for further guidance and support
NACO will continue to consult with the Co-operative Group and the preferred purchaser throughout the sale and transfer (TUPE) process.
NACO will continue to update members of all future developments. We are committed to representing members through this process, and can confirm that current NACO members are entitled to retain membership throughout their continued employment.
As always, NACO Officials are available to discuss individual circumstances with all members. Please contact the NACO National Office to speak with an Official.