Redundancy

Soldato
Joined
2 Feb 2010
Posts
10,740
Location
East Midlands
Been through all this recently, so I feel your pain :(

My company kept me hanging around for over a year at risk before I finally went. I had been there 27 years so had to suck it up while waiting for my redundancy package, which was considerable.

Was only out of work a week though, so there is always something else around the corner.
 
Soldato
Joined
17 Nov 2003
Posts
5,286
Location
St Breward Cornwall
Sometimes if you get some decent people jsa can be ok ( i.e they realise your genuine and are not too bothered about what you're applying for) and it also pays the council tax ( well dosnt but both claims sent together )and the ni contributions
I'm been made redundant end of July , probably have a couple of months off then have a look


Edit . I mean their not bothered about what you apply or don't apply for
 
Last edited:
Soldato
Joined
30 Nov 2007
Posts
2,989
Location
Bristol, UK
What I need to consider is if I take the pay off that will get me through 4 months of unemployment until the money runs out.

I will earn more money by staying in employment as it doesn't look likely that the estates team restructure will happen in the next 4 months, but that is a risk id be taking I suppose.

I'm tempted to ask for 6 month's pay and I'll go quietly tomorrow.

FYI I'm a Facilities Manager

Remember its tax free (assuming you havent already) so you might not be that far off from the 6 months?
 
Soldato
Joined
19 Mar 2012
Posts
6,558
Remember its tax free (assuming you havent already) so you might not be that far off from the 6 months?

I'd check which parts are tax free and which aren't, but yes in principle your money might last longer than you initially thought as up to around £30k (IIRC) could potentially be tax free.

I've been through this a few times, it's a bit rubbish, but if you walk into a new job, consider the pay off a nice bonus. I've managed to buy 3 cars, supercharge one of them, start to turn one into a kit car and put a deposit on my house with the money I've saved from getting 4 lots of redundancy packages!
 
Soldato
Joined
30 Sep 2005
Posts
16,527
Redundancy is a bit of a joke.....isn't it something like a weeks money for every year worked lol

You worked for 5 years, and get a months money.....thanks! Good if you can walk into another job though.
 
Caporegime
Joined
18 Oct 2002
Posts
32,615
To put more context and figures to it, this is what they offered me.

I think statutory I get 5 weeks as I've been there 5 years, so about 2.5k

They offered 3k additional.

Then a bonus extra 2.5k if I accept this week, if I don't they will make me redundant a few months later anyway minus the 2.5k bonus.

In other words there trying to get me to go quick and quiet with a 2.5k incentive.

To feel comfortable I'd like 6months salary in my bank so there 4k short.

Also add they couldn't actually give me a timeline on the main redudency, so could be another 6 month's ?


that seems decent.

Your company has no future for you, and they have made it clear they don;t want you so even if you were to fight them and go down some legal avenue which you might not win you would be ina company that despises you at that point.

If I were you I would take the 2.5k bonus and start immediately looking for jobs. However, make sure everything is written and clear. Emails and word of mouth is not sufficient.



the only expcetion would be if you think it will be incredibly difficult to find new work in a reasonable amount of time.In which case holding on until the inevitable redundancy buys you time in job searching.
 
Soldato
Joined
10 May 2012
Posts
10,054
Location
Leeds
Redundancy is a bit of a joke.....isn't it something like a weeks money for every year worked lol

You worked for 5 years, and get a months money.....thanks! Good if you can walk into another job though.

My mate got paid £20k by the company I work for and got a better paid job before the redundancy period was even over, so yeah depends on the company.
 
Soldato
Joined
19 Mar 2012
Posts
6,558
Why would companies do this though? Surely they'll try and get away with paying the bare minimum?

Often it's cheaper than going through the process, especially if it's a dodgy reason.

E.g. my department got transferred to report into a different VP, just happened to be one I'd had a few run ins with. Funnily enough within a few weeks my role was being made redundant.

They knew it was dodgy ground and they'd have to spend weeks of HR and senior management time to ensure they were clear of any comebacks so they just made it worth my while to keep my head down by accepting the counter offer I made.
 
Soldato
Joined
16 Jun 2005
Posts
23,976
Location
In the middle
There's no future for you at the company, and you could quite easily miss out on decent job opportunities while sitting waiting for redundancy somewhere down the line.
If you can get another job fairly easily (doesn't have to be in the same line of work, I know ex managers who now dig roads or work in shops) then I would probably take the extra cash offered and move on.
Jobs aren't for life any more.
 
Back
Top Bottom