Investment management firm Baillie Gifford has concluded a voluntary exit programme resulting in 160 job cuts at its Edinburgh office. If you are an affected employee, it is important to understand your contractual rights, redundancy pay entitlements, and the legal process surrounding exit agreements.
What has been announced
- On 8 July 2026, Baillie Gifford announced a voluntary exit scheme for staff as part of cost management and workforce adjustments, with initial job reduction numbers unstated.
- On 23 September 2026, the firm confirmed that it had concluded the voluntary exit programme, resulting in 160 job cuts at its Edinburgh site.
About the company
Baillie Gifford is an investment management firm based in Edinburgh, Scotland.
The partnership operates within the financial services sector, managing investment portfolios for institutional and retail clients.
What happens next
Employees approved for departure under the voluntary exit scheme will transition toward agreed departure dates and receive their contractual severance packages.
Under employment law, where an employer proposes collective redundancies of 100 or more roles within a 90-day window, a minimum 45-day collective consultation period is required (or 30 days for 20 to 99 roles).
Qualifying employees with at least two years of continuous service are entitled to statutory redundancy pay, calculated on age, service length, and capped weekly earnings, alongside any enhanced terms offered by the firm.
Voluntary or compulsory redundancy
A voluntary exit scheme enables employees to put themselves forward for departure under mutually agreed terms, providing an alternative to compulsory dismissal.
Employers retain discretion over which voluntary applications to accept based on operational requirements, business continuity, and specific skill retention.
If voluntary redundancy schemes do not meet necessary workforce reductions, employers may initiate compulsory redundancy procedures, which require objective selection criteria, scoring matrices, and formal individual consultations.
Your settlement agreement
Voluntary redundancy packages are typically documented in a settlement agreement, a formal contract in which you waive the right to bring employment tribunal claims in exchange for severance terms.
To make a settlement agreement legally binding under England and Wales employment law, you must receive advice from a qualified independent legal adviser.
Your adviser will review key terms, including tax-free severance allowances up to statutory limits, payment dates, pension contributions, restrictive covenants, and agreed references.
Employers almost always pay a standard legal fee contribution directly to your solicitor to cover the required independent advice.
Common questions
How many jobs were cut at Baillie Gifford?
Baillie Gifford confirmed that 160 jobs were cut through its voluntary exit programme at its Edinburgh office.
Who qualifies for statutory redundancy pay?
Employees with at least two continuous years of service with their employer qualify for statutory redundancy pay under UK law, though voluntary exit schemes often provide an enhanced financial package.
Do I have to obtain independent legal advice on a settlement agreement?
Yes. For a settlement agreement to be legally valid and enforceable, you must receive advice from an independent legal adviser, such as a qualified employment solicitor, before signing.
How Deen & Co helps
Deen & Co Solicitors regularly advises UK employees on settlement agreements, redundancy processes, and exit packages. We review your documentation, ensure your severance terms and contractual rights are fully protected, negotiate terms where necessary, and ensure costs are covered by your employer's legal fee contribution.
Read more about settlement agreement advice or work out your statutory redundancy pay.
If your role is in London, our settlement agreement solicitors London can review the package before you sign.
Sources
- Baillie Gifford concludes voluntary exit programme with 160 jobs cut - Scottish Financial News — Scottish Financial News (23 September 2026)
- Baillie Gifford offers voluntary exit scheme - HR Magazine — HR Magazine (8 July 2026)
Last updated 23 September 2026. This page summarises publicly reported information and is general guidance, not legal advice on your own situation.
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