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Looking for work and Redudancy
Options

LindsayO
Posts: 398 Forumite
My work has had a voluntary redundancy scheme in place for a few months and are now going down the compulsory route. There will be a consultation process and we have been told that it will probably be July before final decisions are made.
It is likely that 1 person in my team of 10 will get made redundant, so I have started looking for jobs. I am not clear on the rules concerning new work and redundancy money. I've applied for a job and the interveiw date is in two weeks. Let's look on the bright side and say I get the job. Big relief all round, no need for redundancy in my team. Can I then go to my current employers and volunteer for redundancy and get the redundnacy money they are offering? or do I just resign as per usual when leaving one job to go to another?
The consultation doesn't start officially for about 4 weeks, and my employer has said they will keep the voluntary scheme open throughout the process
It is likely that 1 person in my team of 10 will get made redundant, so I have started looking for jobs. I am not clear on the rules concerning new work and redundancy money. I've applied for a job and the interveiw date is in two weeks. Let's look on the bright side and say I get the job. Big relief all round, no need for redundancy in my team. Can I then go to my current employers and volunteer for redundancy and get the redundnacy money they are offering? or do I just resign as per usual when leaving one job to go to another?
The consultation doesn't start officially for about 4 weeks, and my employer has said they will keep the voluntary scheme open throughout the process
LindsayO
Goal: mortgage free asap
15/10/2007: Mortgage: £110k Term: 17 years
18/08/2008: Mortgage: £107k Mortgage - Offset savings: £105k
02/01/2009: Mortgage: £105k Mortgage - Offset savings: £99k
Goal: mortgage free asap
15/10/2007: Mortgage: £110k Term: 17 years
18/08/2008: Mortgage: £107k Mortgage - Offset savings: £105k
02/01/2009: Mortgage: £105k Mortgage - Offset savings: £99k
0
Comments
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There is no hard and fast rule on this Lindsay which is probably why no-one else replied... You could always ask HR "in confidence" what their feeling would be if you were to try and get another job and volunteer - would they let you go quickly on redundancy. If you do try this option I would stress how much you like the company, you do not really want to go but you are checking out your options because you know how difficult it is for everyone to be in this situation. That way if you don't get offered the job your "card is not marked" as it were....
Regardless I would recommend that you look for other work - you don't have to take it (a new job) even if it is offered...Achieve FIRE/Mortgage Neutrality in 2030
1) MFW Nov 21 £202K now £174.8K Equity 32.77%
2) £3K Net savings after CCs 6/7/25
3) Mortgage neutral by 06/30 (AVC £22.5K + Lump Sums DB £4.6K + (25% of SIPP 1.1K) = 28.2/£127.5K target 22;12% updated 6/7
4) FI Age 60 income target £16.5/30K 55.1%
5) SIPP £4.6K updated 6/7/250 -
thanks for the reply, I don't really trust HR, and so I don't think I will approach them,
my feeling is I'll keep applying for jobs, if I get one I like I will take it and then see if I can take redundancy, better to have a job and loose the redundancy than the other way aroundLindsayO
Goal: mortgage free asap
15/10/2007: Mortgage: £110k Term: 17 years
18/08/2008: Mortgage: £107k Mortgage - Offset savings: £105k
02/01/2009: Mortgage: £105k Mortgage - Offset savings: £99k0 -
Have the people taking voluntary been getting a fare deal?
How long has it taken to process?
I would ask for the deal in writing with dates it applies.
Get an offer for the new job(you want) and leave the start date/acceptance open based on normal notice
Take the redundancy
accept the new job early if they give you the redundancy.
If not then reconsider.
Chances any local employer knows there are redundancies anyway so be prepared for questions.0 -
getmore4less wrote: »Have the people taking voluntary been getting a fare deal?
How long has it taken to process?
I would ask for the deal in writing with dates it applies.
Get an offer for the new job(you want) and leave the start date/acceptance open based on normal notice
Take the redundancy
accept the new job early if they give you the redundancy.
If not then reconsider.
Chances any local employer knows there are redundancies anyway so be prepared for questions.
I work at a university and they seem to be doing everything by the book, and giving everyone who gets approved for voluntary severence what they ask for.
Its unlikely I will be able to get a job locally, but all the employers that I try and get a job with will know about the redundanciesLindsayO
Goal: mortgage free asap
15/10/2007: Mortgage: £110k Term: 17 years
18/08/2008: Mortgage: £107k Mortgage - Offset savings: £105k
02/01/2009: Mortgage: £105k Mortgage - Offset savings: £99k0 -
Well...I've got my suspicions that the clue as to their likely attitude lies in that phrase you used "doing everything by the book". That being the case - I dont personally rate your chances for trying to take off for a new job early with redundancy cash in hand. Any organisation that plays by the book is unlikely to go for that I'm afraid.
So - I reckon you have two options:
- go for a new job and forget the redundancy pay if you get one before you're told you're "IT" (assuming you were the 1 in 10)
- just stick with your current job and keep your fingers crossed that you're not the 1 in 10.0 -
Well...I've got my suspicions that the clue as to their likely attitude lies in that phrase you used "doing everything by the book". That being the case - I dont personally rate your chances for trying to take off for a new job early with redundancy cash in hand. Any organisation that plays by the book is unlikely to go for that I'm afraid.
So - I reckon you have two options:
- go for a new job and forget the redundancy pay if you get one before you're told you're "IT" (assuming you were the 1 in 10)
- just stick with your current job and keep your fingers crossed that you're not the 1 in 10.
that's pretty much my plan, I'm applying for jobs, hoping I get one I want, if I do then off I go, if not then hope for the best
It was only after I submitted my first application that I suddenly thought about the possibility of being to get the new job and take the voluntary redundnacy money
I'm on my own, my kids are both out on their own, and I'm not really tied to my current location, so would definitely move if it meant being able to stay in employmentLindsayO
Goal: mortgage free asap
15/10/2007: Mortgage: £110k Term: 17 years
18/08/2008: Mortgage: £107k Mortgage - Offset savings: £105k
02/01/2009: Mortgage: £105k Mortgage - Offset savings: £99k0
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