Redundancy Looms

Thread: Redundancy Looms

  1. pratman's Avatar

    pratman said:

    Default Redundancy Looms

    I have just been informed that my department is going to be no more within the UK and being migrated to Budapest to save costs, which will happen throughout Europe but for now the UK is the cheapest option so they will be first to go. We have been advised that we are currently in our 30 day consultation period so it could all change (but we know its pretty much set in stone) but the plan is that there are 4 of us losing our jobs, i am the most senior there, so by the end of April the plan is to lose the 3 guys working under me and then I should say on until the end of June (unless something amazing comes up and i decide to leave early)

    Obviously there is going to be an offer of a redundancy package and also a retention payment, no one has had one of these within the team so i was wondering how much that could be? Also can we contest the figure if offered? My initial thoughts are to see it out to the end as that will take me through to July and maybe start to apply in June for jobs to get an immediate start in a new place even if its for a slightly lower package.
     
  2. dpSparhawk's Avatar

    dpSparhawk said:

    Default Re: Redundancy Looms

    Severence pay generally depends on your salary, length of service, age and your contractual agreement so it's unlikely any of us advise on how much you would receive.

    Some companies offer a weeks salary for every year you've worked there, some 2 weeks for every year. Some lucky people on much older contracts get a month for every year they've worked there. As for retention, couldn't answer that and as far as contesting it, only if it is in breach of your contractual terms and conditions of redudancy.
     
  3. BertRoot's Avatar

    BertRoot said:

    Default Re: Redundancy Looms

    If you resign to take another job then you won't get any pay off or deal as you left of your own accord. You could do a deal with them to keep you on until June but if you find somethign they let you go on the deal but good luck with that negotiation.

     
  4. pratman's Avatar

    pratman said:

    Default Re: Redundancy Looms

    Quote Originally Posted by BertRoot View Post
    If you resign to take another job then you won't get any pay off or deal as you left of your own accord. You could do a deal with them to keep you on until June but if you find somethign they let you go on the deal but good luck with that negotiation.
    One thing we did get told during our meeting with HR was that the redundancy package is not just statutory, they will offer 'a number' of weeks for every year plus an enhancement which sounds good so we will find out more information in another meeting later this week. Also we have been advised that if we agree to stay on but find a job during our extended period we are entitled to our redundancy pay but the retention payment will be paid pro-rata, but i have never known anything about a retention payment so wondered if anyone knew how its worked out.
     
  5. hoponbaby's Avatar

    hoponbaby said:

    Default Re: Redundancy Looms

    As it's non statutory then it's whatever is agreed between them & you.

    It sounds like they'll pay you for X no of weeks/months over and above the redundancy & notice periods to be available to help with a smooth switch over, however if you find work elsewhere then you wouldn't be available from the date you leave. Almost like normal pay - you don't work, you don't get paid.
     
  6. Scal's Avatar

    Scal said:

    Default Re: Redundancy Looms

    Yeah they will probably try and get away with the minimum which i believe is ~ £400/years service + your notice period. The retention period will be for the knowledge/work transfer period so if it goes Pete Tong they have you as a back up. Seen it a few times with TUPE.
     
  7. pratman's Avatar

    pratman said:

    Default Re: Redundancy Looms

    Quote Originally Posted by Scal View Post
    Yeah they will probably try and get away with the minimum which i believe is ~ £400/years service + your notice period. The retention period will be for the knowledge/work transfer period so if it goes Pete Tong they have you as a back up. Seen it a few times with TUPE.
    We heard about this plan a couple of years ago and they moved some work over so we thought we wouldnt last 6 months but we got another 2 years from it, but the way the people in budapest are performing and the fact major clients have no idea what is about to happen, it could be stopped and they reconsider the decision but we see, as the business is desperate to cut costs
     
  8. piggzy's Avatar

    piggzy said:

    Default Re: Redundancy Looms

    You don't fancy Budapest then or is that not an option ?
     
  9. pratman's Avatar

    pratman said:

    Default Re: Redundancy Looms

    Quote Originally Posted by piggzy View Post
    You don't fancy Budapest then or is that not an option ?


    it is an option but for me financially not worth it, although cost of living is lower the pay sacrifice i would have to make is about a third less than what i earn now
     
  10. digidude's Avatar

    digidude said:

    Default Re: Redundancy Looms

    But if the cost of living is say 2 thirds or less then is it viable? It's a country which has a growing economy.

    Sent from my Hudl 2 using Tapatalk
     
  11. akimba's Avatar

    akimba said:

    Default Re: Redundancy Looms

    Usually you will get a better deal the longer you stick around at the company if you see it out until June they will reward you as they need someone in there to turn the lights off and lock the door ;-) But the 30 days consultancy is a hoop the company must jump thru nothing will change your out of a job.

    I have been made redundant twice and both times I have haggled not with the redundancy pay but the retention package as they needed people in IT to hang around til the end so don't be scared to ask especially if you the boss, a good one to haggle with is training as you prob know your job but the company prob not put you thru exams so looking for a new job un-qualified if you with me. So ask if they will throw in and couple of weeks QA.com training vouchers (if can swing it hotel accommodation too) on top of any pay settlement they offer.

    One of the companies I was made redundant from employed a masseur to help alleviate the stress during the 30 day consultancy nice touch on their part ;-)
     
  12. pratman's Avatar

    pratman said:

    Default Re: Redundancy Looms

    Quote Originally Posted by akimba View Post
    Usually you will get a better deal the longer you stick around at the company if you see it out until June they will reward you as they need someone in there to turn the lights off and lock the door ;-) But the 30 days consultancy is a hoop the company must jump thru nothing will change your out of a job.
    well the 30 days are up for us, the offer that has been made is very good, we have had it explained to us that as the department is being moved we technically are not being made redundant and the company do not have to offer anything but I think we have some really good HR people at plant level which argued the case well to senior mangement and central HR and won us a package (statutory redundancy + company enhanced redundancy + settlement + retention) the retention that has been offered nearly doubles the other payments combined so it is very good considering i was expecting in total at best a months pay. We have been told this is a settlement payment and not redundancy and we are now just waiting to see solicitors to sign a document to confirm we will not sue the company for more money once paid out.

    Speaking with the lads they also seem happy with the packages offered although they will leave sooner than myself, they have come to terms with wanting a fresh challenge now and so the job hunting begins for them as they finish at the end of April and i will remain until the end of June, so I guess i will start applying some time in March and hope to try get as minimal a gap between jobs as i can.
     
  13. BertRoot's Avatar

    BertRoot said:

    Default Re: Redundancy Looms

    Good arrows matey, glad it worked out alright.

     
  14. akimba's Avatar

    akimba said:

    Default Re: Redundancy Looms

    Sounds good and I am glad that they look after their staff even to the bitter end ;-)
    I don't believe the not being made redundant bit tho as you are and yes they certainly covering their asses getting you to sign waivers etc and if you happy then is not a problem.

    As you say tho is only a bonus if you can walk straight into another job if you out of work for a few months you will soon burn thru that payout? :-(
     
  15. crazyal's Avatar

    crazyal said:

    Default Re: Redundancy Looms

    Only just caught this thread - good luck to you chap. Hope you get something sorted soon so you can hang on to some of that redundancy ca$h.
     
  16. Nibb's Avatar

    Nibb said:

    Default Re: Redundancy Looms

    You were lucky I worked for the same company for 28years and only received statutory redundancy and a so called long service payment! Less than a years salary for 28 years commitment!
    Still it payed off the balance of my mortgage! Cunts!
    "Where you are is what you eat. When I'm in London I'll have beans on toast for lunch. On holiday — what? Tapas? Go on then I'll have a bit. You eat whatevers in that area"
    Karl Pilkington
     
  17. pratman's Avatar

    pratman said:

    Default Re: Redundancy Looms

    Quote Originally Posted by Nibb View Post
    You were lucky I worked for the same company for 28years and only received statutory redundancy and a so called long service payment! Less than a years salary for 28 years commitment!
    Still it payed off the balance of my mortgage! Cunts!
    If all pans out with will put me debt free for the first time in 10 years with a bit left in the bank at which point the credit cards get cut up and cancelled. I can't wait.


    Sent from my iPhone using Tapatalk
     
  18. Nibb's Avatar

    Nibb said:

    Default Re: Redundancy Looms

    Well that's about the only thing it did for me! I now have no mortgage don't owe any cunt a bean apart from the personal lease on my car!
    "Where you are is what you eat. When I'm in London I'll have beans on toast for lunch. On holiday — what? Tapas? Go on then I'll have a bit. You eat whatevers in that area"
    Karl Pilkington