Redundancy

[CapitalOne]

Just to add to this, redundancy payments are not subject to income tax and NI so any signing bonus should take this into consideration.

Up to 30k so there us a ceiling.

Redundancy: your rights

Being made redundant - rights, statutory payments you're entitled to, notice periods and consultation, finding a job.

www.gov.uk

 

[Hyburnate]

I can't imagine any company offering a £30k signing bonus, but you never know!

Up to 30k so there us a ceiling.

Redundancy: your rights

Being made redundant - rights, statutory payments you're entitled to, notice periods and consultation, finding a job.

www.gov.uk

Yeah 30k ceiling, but 10k VR payment could be more like 12-14k pre-tax as a signing bonus. So if you were offered a 10k enhanced redundancy payout and wanted to leave before that and you wanted the company to match it, 10k would only leave you with 8k as opposed to the 10k depending on your tax bracket.

 

[Stu999]

Hope you get a new role soon, mysticsniper. It's a very in demand field so can't imagine you'll have too much of a problem.

 

[bazzastan]

Sorry to hear it chap. I took "voluntary" leavers/redundancy. Wasn't much of a choice really for me personally, as the alternative was a new position I hated and couldn't do, so took the offer and left end of July. Now retraining into a different field, but will have to look at much lower paid jobs instead as I have no direct experience.




They get around it some way or another. Same type of role, different title, tweaked job description, lower wage. It happened countless time where I worked. Two tier workforce, new guys doing the same job for less, worse terms etc. Then try to push the older better paid guys out.

wish you well

 

[Hyburnate]

@mysticsniper how're you getting on? Redundancy can be tough, everything okay?

 

[Bounce]

My advice would be take the money get a new job.

I have been through a redundancy back when I was 20 it wasn’t nice, but one thing for sure it’s made me stronger. I also don’t have loyalty to any company, because of this, my salary has moved up in every job I have taken since.

Cyber security is in demand so you’ll have no problems getting a new job.

 

[bazzastan]

My advice would be take the money get a new job.

I have been through a redundancy back when I was 20 it wasn’t nice, but one thing for sure it’s made me stronger. I also don’t have loyalty to any company, because of this, my salary has moved up in every job I have taken since.

Cyber security is in demand so you’ll have no problems getting a new job.

don’t have loyalty to any company

exactly the way to be

 

[malachi]

don’t have loyalty to any company

exactly the way to be

I second this!

100% agree

 

[bazzastan]

I second this!

they could not give a ***** have the same attitude if and when it becomes so.

 

[BUDFORCE]

Yeah I dunno why people have loyalty for a company.

I can potentially see it maybe, for a very small company if its family run or whatever, and if that loyalty is rewarded in that scenario.

Otherwise its quite literally a business transaction.

I have never had any loyalty for a company, I do what I need to to get paid and perform at only a slightly above an average level only because that has its advantages, I don't push myself any further then the minimum really.

 

[mysticsniper]

@mysticsniper how're you getting on? Redundancy can be tough, everything okay?

I'm ok, thanks

Have been busy on LinkedIn, updating my CV and I have some more interviews next week. I also have my first consultancy meeting tonight.

 

[BUDFORCE]

Good luck.

 

[NickK]

I thought only a position can be made redundant not a specific person. When I was made redundant it was the whole team, in the end only two ended up going.

That is correct - it is specifically the role, targeting individuals leads to a whole heap of legal cost for the company.

I've been through this a number of times.
1. Redundancy is the role no longer being required, not the individual cost etc.
2. You should have the process defined, written down and it should be talked through with you - this includes the criteria that has been used to reduce the number of roles and how you specifically relate to that criteria. This could be a criteria of historic performance for example, or it could be simply re-structuring has lead to the roles in that country being moved elsewhere.
3. Typically you should be notified that your role is under threat of redundancy (this applies to all of the roles, otherwise it could indicate they have already made their decision rather than follow a process). After that they will have a timeline that they will have everything on it - including the communication dates, the appeal dates, any transfer (as a role may be available for you to apply for), and the completion date.
4. The notification that you've been selected for redundancy statement should indicate dates and package information.
5. The rules for consultation differ on the number of roles being made redundant, so you can get the process they're going to follow - discuss with CAB.
6. If you have any queries about legality - the citizens advice bureaux, CAB, is free and has legal advisers who specialise in employment law.
7. It will be like a grieving process - you will have a rollercoaster of emotions.

I'd advise opening an home email folder, recording the communications as it provides an independent record through google etc. After it's all over, you can then simply archive and move on with your life.

 

[AndyCr15]

Yeah I dunno why people have loyalty for a company.

I can potentially see it maybe, for a very small company if its family run or whatever, and if that loyalty is rewarded in that scenario.

I dunno, I have some loyalty for my employer because they DO try and look after you. I've been through a redundancy process with them twice. Once was only a small cut down and I stayed (in fact only those that wanted to leave, went), the second was a bigger cut down and they allowed me to pivot into a whole new career. I would never have got a job with someone else in the new field with zero experience. I guess it's maybe not loyalty, it's that I can see they are a good employer and the grass is likely not as green elsewhere, so I guess it could be a selfish choice.

Hopefully, you'll look back at this and it will have been a good thing. For me, for example, I earn a lot more now...

 

[NickK]

I work in Cyber Security, my role is a Security Ops Specialist, I am the only Specialist in the company. The new starters are Grad Analysts, so they get them on the cheap, direct from Uni.

Seriously you are in a ultra-demand role right now, especially with 8 years of experience and I assume qualifications behind you.

I look after one of the largest AWS estates that AWS have. Our operating company's cyber teams (as well as group) are literally throwing money at cyber security roles. This also puts you in a good negotiating position - even specifying a start date inline with redundancy would most likely be acceptable (here it takes at least 3 weeks for the security vetting anyway).

So I think if I was you - I'd take the money and simply get the CV out there.

 

[mysticsniper]

Seriously you are in a ultra-demand role right now, especially with 8 years of experience and I assume qualifications behind you.

I look after one of the largest AWS estates that AWS have. Our operating company's cyber teams (as well as group) are literally throwing money at cyber security roles. This also puts you in a good negotiating position - even specifying a start date inline with redundancy would most likely be acceptable (here it takes at least 3 weeks for the security vetting anyway).

So I think if I was you - I'd take the money and simply get the CV out there.

I have 19 years in Sec-Ops behind me, with various qualifications and roles from previous companies.

I have 3 interviews next week, with offerings between £65k - £110k (Based on location, closer to London, bigger the £££)

 

[mysticsniper]

I was invitied to an earlier meeting today, where they tried to offer me a Compromise Agreement.

At first I thought this could be a good offer, but soon realised they were trying it on.

1. They wanted me to agree to be terminated
2. Settlement offer was lower than minimum redundancy package
3. They wanted to charge me a legal fee for the agreement
4. I waiver all rights to take them to court

 

[malachi]

I was invitied to an earlier meeting today, where they tried to offer me a Compromise Agreement.

At first I thought this could be a good offer, but soon realised they were trying it on.

1. They wanted me to agree to be terminated
2. Settlement offer was lower than minimum redundancy package
3. They wanted to charge me a legal fee for the agreement
4. I waiver all rights to take them to court

Should have told them to kick rocks.

 

[peterwalkley]

Blimey that's bad. Were they stupid enough to put any of that in writing ? You'd surely have them over a barrel. Worth asking around and seeing if they've tried to pull the same with other people too.

 

[Hyburnate]

I'd probably be thinking up a counter offer...