Redundancy

dave35

Been told that redundancy is on the cards at work don't know if i'm one of them,
think i'll start an old student thing i read to help me clear my loans/debts.
Get as many people to donate £1 to me and anything over what i need will go to charity.
Only if i'm one of the unlucky few,
been there for 17 years so i'm probably too comfortable and may need a kick up the backside to do something new. Not a good day

McBain_v1

Jesus - and isn't today officially the most depressing day in the calendar :?:
Who knows, you might not be on the hit list but the shock alone might galvanise you to re-assess things and make some changes.
My brother-in-law is also facing this courtesy of a shake-up at Glaxo. Why is it that Chief Execs always resort to slashing the workforce whilst protecting their mega bonus structure...

...no wait, I see it now :idea:

orienteer

Chance to start something new. I was made redundant for the second time 17 years ago, and took the opportunity to start my own consultancy business. Haven't got rich, but quality of life was never better.

Richrd2205

Sorry to hear your news.
I went through this a couple of years ago & it is very stressful. I hope that you're not one of the unlucky ones. As others have done, I used it as an opportunity & things have improved for me since. At least the stat redundency after 17 years should give you a bit of breathing room if the worst comes to the worst...

redddraggon

Where I work, it's looking like most of the staff will be made redundant, very many of them very highly qualified in very specific roles aswel,l which I think may make it difficult to find new jobs.

http://iccheshireonline.icnetwork.co.uk ... _page.html

http://www.liverpooldailypost.co.uk/liv ... -20312262/

All this was caused because of a Government betrayal, but that's another story.

I'm lucky in that I'm only a placement student, and I'll be back at uni before it all goes tits up.

ricadus

Oh dear – so they miscalculated the overheads by a mere £80 million? Sounds like the bean counters there should be made redundant as well.

If the pay-off terms are decent, then "redundancy" can be a blessing in disguise as the money can fund a career change.

dave35

Our pay will just be the bog standard payout.

iainf72

dave35 wrote:

Our pay will just be the bog standard payout.

Pity.

I work on the financial markets and a chap I used to work with was made redundant a couple of years ago, at the age of 49.

He'd worked in one place for so long he got 2 weeks shy of the maximum payout (which was generous, couple of years money basically) I really felt for him and thought he'd struggle but another bank heard what happened, called him in for an interview and he was effectively out of work for 1 day. Happy days.

Hope it pans out like that for you!

wallabyhunter

1) Redundancy can be the biggest downer, or the biggest upper in your working life.

2) Some times, if you work at it, can make your own luck.

Although it is not always as simple as that some times it is, how do you know your case is not the best?

Good luck I hope it all works out for you. It did for me.

gb

ChrisLS

...Dave I can't add to the other posters advice and comments, just to say I know what you are going through...I have been made redundant five times in my working life...

Clever Pun

Redundancy is awesome...

they have to give you two months notice before officially binning you (gardening leave normally) and then you get your notice period. if you've been there 17 years that's 4 months wages unless they cap it... tax free mind

I got 3 weeks per year I worked there (7) so I nearly got 1/2 a years tax free... it was awesome, think of all the time you'll have to cycle in between looking for a new job.

Good luck and enjoy it.

nwallace

Clever Pun wrote:

they have to give you two months notice before officially binning you (gardening leave normally) and then you get your notice period. if you've been there 17 years that's 4 months wages unless they cap it... tax free mind

Is there not an upper limit on the legal requirements, 32k I think. That's around 8k a month.

hugo15

Don't think there is an upper limit, but anything over £30k will be subject to income tax.

simon_e

I was made redundant 3 years ago after 15 years in the same place. I'm earning even less now (wasn't exactly on good money before) but life's better - I'm home sooner, am less tired and get to commute to work on my bike

Work had got stale, the daily drive was tiring and I needed a change, but while I was in work the weeks and months rolled by and I didn't bother scanning the paper for jobs most weeks. The redundancy money and mortgage protection helped tide us over. I was temping/out of work for several months but eventually found something.

It's a good opportunity to take a step back and look at your career so far, reassess where you are and where you want to go. A recruitment consultant recommended a book to me, What Color is Your Parachute. I still haven't read it but it's supposed to be about career changes etc. The other thing he did was help me focus on making my CV more impressive - use of good verbs, highlighting my skills and strengths. Learning to sell yourself isn't something that comes naturally for many people, but it's well worth it. You can go to interviews with a good sense of your worth, no grovelling or awkward gaps when they ask you about your achievements etc.

Good luck.

videoman

I volunteered for redundancy 18 months ago after 17 years with the same company at 46 years old. Three months gardening leave with full pay, expenses and company car then two years salary as payout, first £30,000 tax free. Then moved to Tenerife and never looked back.

ricadus

I got almost a year's income for eight years service and used it to purchase the equipment etc necessary to do the job independently, working for myself. I had no trouble getting the work, in fact people seemd to be getting in touch with me once word got round, so in 4 years I've done very little self-promotion other than sending out Xmas cards.

Th old company still sometimes has need to call on my services, but I also do a lot of more interesting and better paid work for a number of their main competitors. Idiots – they obviously saw staff merely as a perpetual cost, not an asset.

Random Vince

quick, get a bike on teh bike to work scheme,

you'll get a bike out of it either way :P

MadammeMarie

dave35 wrote:

Been told that redundancy is on the cards at work don't know if i'm one of them,
think i'll start an old student thing i read to help me clear my loans/debts.
Get as many people to donate £1 to me and anything over what i need will go to charity.
Only if i'm one of the unlucky few,
been there for 17 years so i'm probably too comfortable and may need a kick up the backside to do something new. Not a good day

Same here! Scary, was told it might be me. Been here 8 and a half years, also too comfy, but kinda like it here. You should see our cycling facilities! 3 cycle parking bays and showers! Gonna miss that!

dave35

I'm safe in my job....for now anyway, 5 people went inc. a mate who's been there 23 years.
Thanks for all your replies.

Ieuanllan

Good luck man, hope things pan out well either way.