abrdn cuts employee benefits to reduce costs - reports

Redundancy payments and parental leave

abrdn has slashed some of its employee benefits in a bid to reduce costs and contain expenses, according to reports.

The benefits affected included redundancy pay and parental leave, according to the Financial Times. abrdn Diversified Income & Growth eyes managed wind-down The group will introduce a 52-week cap on redundancy payments from 2024, with payouts set to be dropped from four to two weeks per year of service. Paid parental leave is also being cut, from 40 to 26 weeks, effective from October 2024. The company's policy, which allowed a phased return to the workplace from parental leave on full pay over three months, will also be dropped from October 2024. The move marks the latest cost-...