Tesco has today stunned the markets by confessing to having overstated its half-year profit guidance by £250m. The news prompted a plunge in Tesco's share price, which closed 11.6% lower at 203p.
An investigation has been launched and four executives, including the UK Managing Director, have been suspended.
Employers should only suspend:
- In cases of alleged serious misconduct
- Where there is a potential threat to the business or other employees
- Where it is not possible to properly investigate if the employee remains at work
- Where relationships have broken down
Employers should have a clear disciplinary procedure, setting out rules of conduct as well as possible sanctions for misconduct and gross misconduct.