redundancy

peggysusan · 1 March 2009 at 10:51PM

I have just been told at work that our company is up for sale..What i want to know is...am i entitled to redundancy payment after 5 years service with the company???or does my contract of employment just carry over to the new buyer if we get one???

p00hsticks · 2 March 2009 at 1:56PM

I think it depends on exactly what sort of company it is, what sort of comany buys it and so on. If they're both limited companies and one buys the shares of the other then I beleive you just carry on working for the new comany, with your years service unaffected. Of course, there's nothing to stop the new company then saying they are going to make redundancies (just as your existing one could), but if you were unlucky enoguh to get made redundant your service years would include those you ran up working for your original company.

smartpicture · 2 March 2009 at 4:24PM

Yes thats right. You need to look up TUPE regulations, it's all about how your employee rights transfer to the new employer. If they chose to make you redundant, it would have to be on the same terms as your original employer would have.