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Redunancy Looms
spykey_uk
Posts: 355 Forumite
Hi guys,
I hope someone can help. My OH's job looks like it might be on the line, nothing has been said yet, but they made a massive cut back of redundancies about six months ago and said more will be needed if nothing improves, which it hasn't (its got worse).
He has been there just under 2 years so won't be entitled to a redundancy lump sum (just notice period) so thinks he will be in the firing line when it happens.
My question is, do you have any tips for preparing ourselves for him being made redundant. We could probably (just) survive on my wage for a few months but no longer. He earns around £1400 and I earn around £1200.
I think we should start making cut backs where we can to get ready for the inevitable, but just wondered whether there was anything specific we should start doing?
Many thanks,
Sarah
I hope someone can help. My OH's job looks like it might be on the line, nothing has been said yet, but they made a massive cut back of redundancies about six months ago and said more will be needed if nothing improves, which it hasn't (its got worse).
He has been there just under 2 years so won't be entitled to a redundancy lump sum (just notice period) so thinks he will be in the firing line when it happens.
My question is, do you have any tips for preparing ourselves for him being made redundant. We could probably (just) survive on my wage for a few months but no longer. He earns around £1400 and I earn around £1200.
I think we should start making cut backs where we can to get ready for the inevitable, but just wondered whether there was anything specific we should start doing?
Many thanks,
Sarah
Mortgage when started (Dec 2013): £157,272.50
Current mortgage (date): £156,885.56
Mortgage free day: Dec 2043
Current mortgage (date): £156,885.56
Mortgage free day: Dec 2043
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