The Old redundancy chat this morning

1finny

1finny

Well-known member
Feels a bit weird - first time it’s happened.

New CEO joined 4 months ago and there was always going to be change.
I kind of figured I’d be in the firing line (65 next year) and thought she’d get to September before making the call.

Anyway, I got called in this morning and my job will (rightly) be no more and it’s going to be incorporated into a bigger job which she is going to recruit for. I’m ’free’ to apply but she wants to test the outside market.
We both know she really wants someone younger but she can’t say that.

She wants me to do the bigger role for 6 months and, for that, she will enhance my redundancy package.
I’m now just mulling stuff over and working out what ‘fairness’ feels like before catching up with her later this week.
 
Always sucks when it happens as it throws your life into uncertainty - but it has always worked out for the best for me and gives you opportunity to try new things, which you might have avoided before in the name of being comfortable.

Try and get as much out of them as you can, and use that cash to your advantage.

I'm not sure of your financial position or your industry - but would the redundancy package give you enough of a cushion to feel comfortable trying contracting, for example? Given your age it might be a good way to reduce the working hours without taking too much of a hit financially - if at all. Obviously may not apply.

Good luck (y)
 
1finny said:
Feels a bit weird - first time it’s happened.

New CEO joined 4 months ago and there was always going to be change.
I kind of figured I’d be in the firing line (65 next year) and thought she’d get to September before making the call.

Anyway, I got called in this morning and my job will (rightly) be no more and it’s going to be incorporated into a bigger job which she is going to recruit for. I’m ’free’ to apply but she wants to test the outside market.
We both know she really wants someone younger but she can’t say that.

She wants me to do the bigger role for 6 months and, for that, she will enhance my redundancy package.
I’m now just mulling stuff over and working out what ‘fairness’ feels like before catching up with her later this week.
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It sounds like you knew it was coming and were prepared for it, although it can take you sidewards when you hear it though. I know through experience.

From our chats over the years and reading your posts, I am sure you will be financially sound but I feel it might be foolish not to take on the increased work for 6 months and leave with a bigger package. It all helps when you are retired.

Only you know what is best and you need to sit down with your partner and discuss your next move.

Good luck with whatever you choose.
 
exiledinboro said:
Do what you think is best

But bear in mind you might be being played along when a decision has already been made

For example will your extra work involve allowing someone to shadow you?

Do you know what your redundancy will be, and how do you know it will be improved for extra work for 6 months?
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Don't tell them your secrets!
 
My dad got made redundant in his 60s. I can't remember how long he was out of work, or if at all. After a few months his old company called. They must have been getting more work in and there was a shortage of skilled engineers so they wanted him back. He wasn't keen and said he would come back for XX amount, Seth Johnson style, expecting them to say b***r off. But they didn't and he ended up seeing our his career with said company on much more money than he was on prior to redundancy. Never know how things will work out. Best of luck to you whatever you decide to do. (y)
 
ThePrisoner said:
Coming up to 65? Get out while your body and mind are still functioning and go and do something you want to do.

Unless you are one of those weirdos who lives to work :)
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My body's great - my mind, as many on here have pointed out, went years ago :cool:
exiledinboro said:
Do what you think is best

But bear in mind you might be being played along when a decision has already been made

For example will your extra work involve allowing someone to shadow you?

Do you know what your redundancy will be, and how do you know it will be improved for extra work for 6 months?
Click to expand...

Spot on - my plan will be to get everything agreed and documented within the next week or so. I know what my redundancy is at this stage. We will need, amongst other things, to agree the 'enhanced redundancy for staying on.


Every cloud - Just looking at holidays in the Maldives in January o_O
 
I look forward to your first book. I know from your contributions here you have a very good one (at least) in you.
 
1finny said:
My body's great - my mind, as many on here have pointed out, went years ago :cool:


Spot on - my plan will be to get everything agreed and documented within the next week or so. I know what my redundancy is at this stage. We will need, amongst other things, to agree the 'enhanced redundancy for staying on.


Every cloud - Just looking at holidays in the Maldives in January o_O
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Nice one 1finny.

I would get the company to show you how the redundancy payment has been calculated, just to make sure you are comfortable with it. I used to have to calculate them in a previous role.
 
Just say chuck me me 40k tax free + 3 months notice POST 6 months cover + gardening leave. Job done.
 
sounds great a gift, I retired just back in April but for the last 18 months I was working I was praying they would realise I was useless and give me early redundancy, but unfortunately no luck so just retired anyway, good luck with what you decide!
 
They don’t want someone younger to your job…….they want someone CHEAPER. Make sure you get a far better package than what’s on offer, otherwise you will be doing what would amount to a favour for them after they’ve told you to p*ss off.
 
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