Around 100 of Waterstone’s employees will not receive a 3% pay rise given to the rest of the workforce.
The 100 employees are being left out because they are currently on legacy contracts, rather than the consolidated company-wide contract.
A spokesperson from Waterstone’s said the consolidation process was undertaken several years ago to harmonise the contracts and terms of employment following a number of acquisitions made by the company. †Employees were told that if they did not sign the consolidated contract, they could not participate in the pay rise, which was promised to all 4,000 employees.
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