Being offered either redundancy or different pay terms

Rockee

I am currently employed in a sales/marketing role with an annual salary together with a year end bonus. I have now being told that my role will no longer be required (mainly the marketing). This will come into effect at the end of this month.

I am been offered continued employment but in a strictly sales role with alot smaller basic with commission based on sales targets. This is basically a pay cut with a slightly different role to what I am currently doing. My employer says that they don't want me to leave and would like me to accept the new terms. If I don't, then they will offer me redundancy and advertise for a new sales person.

I am more likely to accept the newer terms as I have only been at the company for the less 4 years for any significant redundancy payout and in the current climate I don't think I would jump into another job. I am unsure how much notice they can give me for the new pay terms, should I sign a new contract of employment......?

If anyone has any info or had a similar experience then would appreciate the advice.

Many thanks

jazzyman01

Ntice would be at least 4 weeks as you have been employed for 4 years. This could be more dependent upon your contract. Notice could be waived if you and the company agree to an earlier date.

Grovester_2

The OP states less than 4 years so statutory pay would be 3 weeks capped at £350 per week. Add to this the notice period which will depend on your contract normally 4 weeks at current salary less tax and NI. Any outstanding holidays etc.

So if you stayed on you would get your new salary instead of notice pay and you wouldn't get the redundancy. So for the sake of 1k I'd take the new terms as it may well take a few months to get a new job. I've noticed that a lot of jobs I'm going for are at a reduced salary as not only are companies cutting back on staff the increased number of applicants creates more competition and that reduces the price (salary). So even if you did get a new job it may pay less.

I'd stay on, and look for a new job so that you at least have an income whilst job hunting if you think you can do better. Also ask for a higher basic before accepting, they can only say no.

Rockee

Many thanks for the info, I am in discussions this week and will make a decision at the end of it. I will let you know how I go on.

Cheers