Redundancy watch
Discussion
Well what we've been worried will happen at work ( a certain insurance company ) has finally happened. The official line is we are entering a 90 day consultancy period, but the truth of the matter is at least 100 jobs will be going.
So do I wait to see if I'm pushed out or do I jump ship first, and secondly if I'm about to do the latter does anybody know of anybody recruiting in manchester with roles for somebody who has a load of customer service experience and is willing to slog his guts out to make a decent wage?
So do I wait to see if I'm pushed out or do I jump ship first, and secondly if I'm about to do the latter does anybody know of anybody recruiting in manchester with roles for somebody who has a load of customer service experience and is willing to slog his guts out to make a decent wage?
How long have you been with the company?
Do you know how generous (or otherwise) their redundancy payments have been in the past?
I was made redundant last year after a 90 day consultation period. These 90 days consisted of me staying at home applying for jobs, so I was able to walk into a new job a week after being made officially redundant, with 12 years redundancy payment in my back pocket.
I consider myself lucky.
If I were you I wouldn't jump ship. Use the 90 days constructively (if it comes to that).
Do you know how generous (or otherwise) their redundancy payments have been in the past?
I was made redundant last year after a 90 day consultation period. These 90 days consisted of me staying at home applying for jobs, so I was able to walk into a new job a week after being made officially redundant, with 12 years redundancy payment in my back pocket.
I consider myself lucky.
If I were you I wouldn't jump ship. Use the 90 days constructively (if it comes to that).
Unfortunatly I've only been with the company 18 months so won't be eligible for any for of redundancy. The biggest worry for the farrendahl household is with both myself and the other half in the same position with the same company we are potentially looking at a joint redundancy. Fortunately he's been in the role for 3 years and will get a redundancy pitance but to say I'm worried is an understatement
t creak can provide you with a smile.farrendahl said:
Unfortunatly I've only been with the company 18 months so won't be eligible for any for of redundancy.
Pretty confident you'll get something as you've been there more than a year. Having gone through the process a few times, whilst it varies from place to place decent sized companies would typically give you a month's salary as a tax free redundancy payment, your unused holiday (pro rata from up to the date you're made redundant), and a month's notice paid in lieu of you working. The holiday money and notice period in lieu would be taxed.Personally, I'd spend the next couple of weeks getting your CV in order, then applying for as many jobs as you can - if you don't need to take one, excellent, but it's handy to be ahead of the game if you are ejected. Certainly stay employed rather than quitting within the consultancy period.
Good luck!
Edited by DanL on Monday 8th March 23:46
As has been previously been said I would sit tight, sort out my C.V and start applying for other jobs. Once the 90 day due diligence has expired they will pretty quickly tell you if you are going or staying (They have decided this already, just need to go through the legal formalities). Once this has happened they will then give you a final leaving date and they can't stop you going for interviews in this time.
I got made redundant at the start of 2008 after being there only 10 months and was VERY lucky to get £7.5K. I wouldn't bank on getting anywhere near this though. Back in 2008 the job market was very good and I got a contract role 4 weeks after being made redundant.
However the contract ended at the end of last year and I am still out of work. The job market is terrible at the moment so I would look now and if you get offered anything go.
I got made redundant at the start of 2008 after being there only 10 months and was VERY lucky to get £7.5K. I wouldn't bank on getting anywhere near this though. Back in 2008 the job market was very good and I got a contract role 4 weeks after being made redundant.
However the contract ended at the end of last year and I am still out of work. The job market is terrible at the moment so I would look now and if you get offered anything go.
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