Redunducy: Redunducy process vs "protected conversation"

413x

413x

413x

Caporegime
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So I'm in the unfortunate position of being made redundant with no redundancy (due to being in my role under 2 years). But 3 months notice pay fortunately.

The company is scaling back and management have asked to find FTE savings. Im logically the correct choice in IT.

I should add. I think this is inevitable. Every other person is basically core to business running.

I have been given 2 options.

A)

I've been offered the option of taking a protected conversation. Where I would be paid my 3 months in November + holiday + some 'uplift'.
(holiday is significant) I haven't taken 15 days!

I'd effectively end employment soon. November.

I guess this is like a "make it easy for us" pay off

B)

The other option is to go down redunducy. I'd be an employee for 3 months.
I believe if I found a new job I'd have to resign. I may have to use my holiday in my notice.
If I found a job in that time I'd either have to wait 3 months or be let go early.



Conclusion

On face of it option A seems much better. Except perhaps leaving a gap in my CV.

Money at this time is obviously important and seems like A has much more attached... Unless there's some tax issues etc?

I'd be free to take jobs almost immediately.

Any reason why I shouldn't take A?
 
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Thought so.

Well. I'm mainly a power BI developer.
With some data engineering. Obviously proficient in SQL.

However I'm not by any means able to walk into a full data engineer role. This role was taken to help plug that gap.


I thought A was better. If I do find a new role (any role, I will even temp work) the pay with no need to pay it back would be great


Also, option B) , 3 months would take me to. January pay.
Option A) should give me. 4 months.

Christmas isn't an ideal time to look for jobs.

I should note, I've had the official letter, but no meetings.
I suspect (although I don't know) there are only a few people going.

The business has sold off whole sub companies while I've been here.
 
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HangTime said:
Don't worry about it, I interviewed for my current role in the same sort of discipline over the Xmas period
Click to expand...

I've said I want the cash.

Works out 10-11k (I think) after tax. So if I get a job January or before I'll be sitting pretty!

Not really worried about jobs as been OK last 3 years.
 
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If you can get a job quickly then A seems like a good call, especially if you're going to go contracting (which ought to lend itself to being able to get a job quickly, contractor roles are typically fewer interviews and often need someone ASAP).

I guess the other option is maybe better in some circumstances with perm roles, it's good to still be employed while looking for a new (perm) role (you don't need to tell them you're going through redundancy) as it can potentially help your salary negotiations, sure you might cut the redundancy period short but it would be for a good pay package you've negotiated.
 
Option A - have the conversation, don't agree to anything, just take notes etc.

If you are then presented with a settlement agreement, they should also offer to pay for independent legal advice as a part of this.
 
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I'm getting the feeling that the jobs market isn't as good as it was when I applied for this.

With the recession starting to bite this probably isn't a good time to be looking!

Any other year I wouldn't be concerned as usually after Christmas Market is good. However. Recession!
 
All confirmed and done now.
I'm officially a bum!


Looking forward, I have 2 stage 2 interviews next week and 1 stage 1 interview.

So all OK so far.

All permanent positions. It's a difficult time to turn down any offers but I'd like to try contract, but no responses from any applications I've put out for these. But see how things go. For now it's just nice to have interest from employers.
 
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Couple more second interviews next week.
Got turned down for one of the previous ones and I turned down another.

Only one I really want though. Lower salary one is the one I'm after. Had the interview today and already have heard back they want second stage in Monday!

Feels weird turning down jobs I have to say. With a recession round the corner does create mild anxiety.

But if I do get something this side of Christmas that redundancy will be best thing to happen due to the redundancy pay that landed today
 
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