Redundancy

[chrisowen85]

It's £400 for every year you have worked there minimum. Got made redundant in November and managed to get £550 per year from them.

[bobbarley]

Imagine that these days, a company that looks after it's employees  

Heard it's likely the entire department I work for will be shipped off to either Ireland or India by the end of the year  

[Steve_PD]

You will get:
0.5 week’s pay for each full year of service where your age was under 22
1 week’s pay for each full year of service where your age was 22 or above, but under 41
1.5 week’s pay for each full year of service where your age was 41 or above

I earn more than £400 a week but I wouldn't get what I earn a week if I was made redundant now. Pretty sure the blokes in work when they got made redundant 2 years ago they where capped and they where all over 50

[bobbarley]

Gawd...  I'd end up going to court if I got the boot and couldn't get another job.  Too many out goings and debts I'm trying to clear.  On the up side, it'd all get written off 

[Steve_PD]

Imagine that these days, a company that looks after it's employees  

Heard it's likely the entire department I work for will be shipped off to either Ireland or India by the end of the year  

Hopefully they don't how many years you got in? Might be worth looking for another job now

[bobbarley]

I've been there for 5 years, so if I hang around I'd walk away with just over £2000.

Rough plan would be for us to move in with my parents, her working full time, and I try to use the money to re-train so I can do something else.

[Jay]

damn, hope it's not true Nige

[bobbarley]

damn, hope it's not true Nige

I hope not mate, couldn't be worse timing with the little one here. 

They've made 5 of the Vice Presidents redundant already.  Some of it is just rumours, but there's also some tell tale signs as well.  Some of our work is being done in Pune at the moment.  The official line they're spinning is "We're trying to take some of the strain off you guys".  Unofficially, it sounds like they're seeing whether they can do the work before they move everything over 

[Ess_Three]

And the pay is gross, not taxed?

Up to £30k it's tax free.

Above that, should anyone be so lucky, it becomes either 40%, 25% or less, depending on when you get it in the financial year and if you work in the next financial year etc...in other words, time for an accountant!

[dixie180]

Good Luck mate with the direction you decide to take if you do get made redundant.It happened to me 6 years ago and i havent looked back.It is hard initially but there is money to be made out there.

Rob