Division: IT transformation project
All but a few key contractors will be let go upon end of their current contract, so many will not make it to the end of March. We are being let go due to a very recent C-level policy change caused by market conditions rather than IR35. I don't think the Feb 2020 storms helped either (and may in fact be the reason), as Covea underwrite a major proportion of the insured loss.
Prior to this, the company were moving towards a fair CEST appraisal. For those found inside, there was an FTC calculated from their current day rate minus holidays, which would mean no contractor would be much out of pocket. Assuming HMRC agreed not to pursue retrospectively, this would have been a good deal!
Not much in the way of bad blood. Senior line managers have clearly pushed back on the decision as far as they could, and it feels as if their hands are tied by circumstance rather than anything underhand.
General mood is a bit glum but certainly not angry.