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Employers changing holiday plans

This is a purely hypothetical situation, but is an employer allowed to change a holiday that they've already agreed to give you? And if so, what if you've already booked a holiday, and cancelling it would cost you money? I've looked on the government website, and all it says is that an employer can refuse a holiday as long as they tell you in advance in a time equal to the length of the holiday. But it doesn't mention anything about having to give you a holiday once they've agreed.
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Comments
Whether that happens in reality depends on how honest an employer you have. Friends who work in the banking industry have found themselves in this situation before and the bank has coughed up.