Redundancy

[Malaguena]

Im sure they will, i like to try and be as positive as i can and i have been made redundant before and it turned out to be the best thing that happened. However, i now have kids and a wedding to pay for so timing isnt great.

Have you considered contracting rather than employment - not my area but loads of the recruitment agencies I use always seem to be looking for Service Management contractors

 

[Diego]

Best of luck mate. My fixed term contract comes to an end on June 30th and I was worrying too as I have a little boy and another one on the way.

But I have just got a new job permanent this time too rather than fixed term, just waiting for my start date so I can hand my notice in. So there is always light at the end of the tunnel and I’m sure there is for you too

 

[ThatFragranceGuy]

Only 5 years.

Its typically 1 weeks pay per year but they are offering 1.5 weeks per year plus an additional month on top. From the conversation, whilst they cannot say they are pushing you in a direction it very much felt like take the offer. If not, you would just receive the standard redundancy package if made redundant.

They are also wanting a quick turnaround. 2 weeks if you take the offer, end of may if going through the process.

8.5 months pay tax free, I'd probably take that and take a low pressure job while you job hunt. Else you just end up in that situation again or miss out on the enhanced terms.

 

[Lightweight]

8.5 months pay tax free, I'd probably take that and take a low pressure job while you job hunt. Else you just end up in that situation again or miss out on the enhanced terms.

I thinks it’s 1.5 week per year and an additional 1 month (as per KDG post) , so that is only 11.5 weeks redundancy pay ( 7.5 weeks in plus 4 weeks additional ). Not sure I would be putting my hand up for voluntary, I would update CV, contact agencies/ LinkedIn and go through the consultation process.
Also not all redundancy pay is tax free only the first £30k is tax free.

 

[ThatFragranceGuy]

I thinks it’s 1.5 week per year and an additional 1 month (as per KDG post) , so that is only 11.5 weeks redundancy pay ( 7.5 weeks in plus 4 weeks additional ). Not sure I would be putting my hand up for voluntary, I would update CV, contact agencies/ LinkedIn and go through the consultation process.
Also not all redundancy pay is tax free only the first £30k is tax free.

An yeah misread that.

Most companies I've worked for have done 3-4 weeks for each year of service

Still, not sure if want to stick around for a firm so clearly hell bent on getting rid of you. I've been through redundancy twice and gotten better jobs both times as well as big payouts. The hardest part is lining up the next role within the exit period but managed it both times by telling firms I had a 3 month notice period which isn't uncommon, but I didn't.

That would still be just shy of 3 months pay tax free, plus notice period. Depends how likely OP is to be able to find decent work, or work to tide him over until he does.

 

[swordtrombonefish]

Lucky enough to have had only one redundancy - BSC in the 70's and they paid for my IT for three years education100%, 85%, 70%.

But I have worked in the IT game for a long time and seen this as a contractor with EDS, HP, HPE, DXC and ATT. The big companies just seem to do this on waves when they need to reduce the head count costs, but will retain contractors because they are n a different cost category.

As some say it may be worth looking to the contract market - even to some government departments like HMRC and DWP as they are big users of IT and hungry for good people.

Very best of luck to you.

 

[sadgit]

But I have worked in the IT game for a long time and seen this as a contractor with EDS, HP, HPE, DXC

27 years for me via this path. Some awful senior managers hell bent on making people redundant.

There were a lot of service manager contractor roles going about a couple of years ago.

DWP is a good call. I have a lot of my ex staff now working for them in various roles, most are home based with the odd trip trip up north. Perm and contractors.

 

[KDG]

Thanks all, some good advice on here.

Put it to one side over the weekend as it was my son's 5th birthday. Got my LinkedIn updated last night, reached out to some old contacts on there and applied for a couple of positions i have seen and doing more of the same today.

Got to be positive and turn this into an opportunity.

 

[weemoby]

Thanks all, some good advice on here.

Put it to one side over the weekend as it was my son's 5th birthday. Got my LinkedIn updated last night, reached out to some old contacts on there and applied for a couple of positions i have seen and doing more of the same today.

Got to be positive and turn this into an opportunity.

Good luck

 

[Andy_W]

Only 5 years.

Its typically 1 weeks pay per year but they are offering 1.5 weeks per year plus an additional month on top. From the conversation, whilst they cannot say they are pushing you in a direction it very much felt like take the offer. If not, you would just receive the standard redundancy package if made redundant.

They are also wanting a quick turnaround. 2 weeks if you take the offer, end of may if going through the process.

Sorry to hear about your situation, sounds terrible.

I'm not sure if it works like this, but the way I see it, they're offering you 6.5 weeks extra pay to take redundancy, but if you don't take that then my guess is you have a lot higher chance of keeping your job? Obviously if you take the 6.5 weeks extra then you almost certainly need to find another job?

If that was me, and there were limited options elsewhere then I wouldn't take the offer, as even half a bird in the hand is better than none in the bush etc.

No matter what mind, I would be applying for other jobs, and trying to get away from there if they wated to retain me or not.

Need to balance up the equity of the extra cash v the probability of being able to retain a job which may be hard to replace?

Suppose it comes down to how many are in your role or similar, and how many could they get away with keeping/ losing?
Do you cost more than the rest or are you cheaper than the rest?

 

[Unravel_Morrison]

Thanks all, some good advice on here.

Put it to one side over the weekend as it was my son's 5th birthday. Got my LinkedIn updated last night, reached out to some old contacts on there and applied for a couple of positions i have seen and doing more of the same today.

Got to be positive and turn this into an opportunity.

That's the right attitude.

I got made redundant last year and it sucks.

I think if companies treat you properly then it isn't so bad but so often they don't.

My company made me redundant even though the position itself wasn't; they were just relocating. They offered me hybrid terms but me paying to get to and from the office 2 days a week (with them paying 1 night hotel). It would mean me having to leave home at 5.15am on a Tuesday or Wednesday and then not getting back home until 11pm the next night. would've cost me £500 a month. No thanks.

 

[newusername]

Only 5 years.

Its typically 1 weeks pay per year but they are offering 1.5 weeks per year plus an additional month on top. From the conversation, whilst they cannot say they are pushing you in a direction it very much felt like take the offer. If not, you would just receive the standard redundancy package if made redundant.

They are also wanting a quick turnaround. 2 weeks if you take the offer, end of may if going through the process.

Given what you've said in the OP about the job market, that seems like a low offer, just an additional 6.5 weeks pay tax free over what you think would be due.

Are you sure they aren't just offering you statutory redundancy plus 1 month (an even worse offer)? Just the week per year / 1.5 weeks per year looks similar to the calculation your employer is meant to use for that.

• 0.5 week’s pay for each full year worked when you’re under 22
• 1 week’s pay for each full year worked when you’re between 22 and 41
• 1.5 week’s pay for each full year worked when you’re 41 or older

The 6.5 weeks still seems tight especially with the statutory consultation & statutory notice periods if they wanted to make you compulsory redundant, you can be hanging around for getting on for 10 weeks between starting a consultation period & leaving anyway.

Are you in a union, if not Citizens Advice would be able to review the terms attached to the offer.