Sir Philip Green apologises for loophole plan to ‘rake in millions in furlough handouts while axing 300 staff’
SIR Philip Green apologised over plans to exploit a furlough loophole and rake in millions while axing 300 staff.
In July the law was changed due to concerns companies would take advantage of the scheme to reduce pay for staff made redundant. The Times reported that the £950million company made 300 staff redundant at its head office in its bid to exploit this loophole while an executive told staff the empire needed to scrape "every penny we can get".One employee told the newspaper: “Even by the standards of’s Arcadia this has been shocking. The idea that they would get rid of us and not even honour our contracts in a time of financial crisis is just morally and ethically bankrupt.
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