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Oh my god. I think I'm going to lose my job

My work has just announced 133 redundancies - more than a quarter of the workforce. Production journalists are in the firing line, which is me. We're well reseourced on our desk, so I think that puts me pretty high up the firing line.It's a total nightmare - my DH is just starting a two-year course to be a music teacher. WE have a small baby. I'm the main breadwinner and work full time. I also run a local magazine and freelance work to try and make ends meet.My question is about the redundancy deal being offered. They are giving one month's pay for each year of service, and then the total of your notice period. I've been there five years and have a three-month notice period so would get eight months pay. Is that a good deal? I've no idea what redundancy payouts are usually like....Very worried Sarah
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Comments

  • lynsayjane
    lynsayjane Posts: 3,547 Forumite
    Part of the Furniture Combo Breaker Xmas Saver!
    don't know much about this kinda thing, but just wanted to send you my best wishes. i guess it's the not knowing thats the worst. maybe start looking at new jobs in your area straight away. i guess the sooner you look the sooner you'll know what your chances are...
  • climbgirl
    climbgirl Posts: 1,504 Forumite
    I would say eight months is a fairly good deal to be honest, it's certainly well above the statutory requirements.

    I'd brush up the cv and start looking for jobs just in case. It might work out in your favour, you could find something pretty smartly and take the redudancy as well.
  • wendym
    wendym Posts: 2,945 Forumite
    My SIL is a local newspaper News Ed. When he took the job on (about 3 years ago) he had 30 reporters. He's now down to 6, and the atmosphere (and his state of mind) is beyond frazzled.

    He has spent almost a year living with the possibility of redundancy (the drop in staff numbers is actually down to people leaving as they just couldn't stand it any more). I'm pretty sure that the deal you describe is what was being talked about for his paper. I'll ask him this evening.

    I'm so sorry you find yourself in this position. Many years ago my husband re-trained to teach music, and we had a baby, so I know the pressures. And isn't it ironic that as working journalists are facing this all over Britain, hundreds of students pour into Journalism courses?

    Crossed fingers and a hug.
  • nidje
    nidje Posts: 119 Forumite
    Hi
    There's a guide here to redundancy payments and what you should get
    http://www.dti.gov.uk/employment/employment-legislation/employment-guidance/page27698.html
    HTH
    N x
  • happyevs
    happyevs Posts: 112 Forumite
    Also i still think the rule still aplies that any job interview you go to your boss will let you go to it,in some cases if its only 1-2 hours missing from workplace he or she will pay you for the time you are away but ask the boss 1st good luck in finding something quick All the best.
  • I got made redundant after 5 years. I got 2 weeks pay for each year plus 1 months notice so a total 14 weeks.

    Your deal sounds pretty good and certainly more than they are obliged to give you.

    Make sure that any holiday entitlement that you have built up but not used is also paid for.
    Debt free date - June 2008 :T :T :T
  • Although you don't know whether you will be affected by the redundancy, I would start getting your cv out there as otherwise you could end up against all the other people who are being made redundant. Get a head start while you can.

    keep smiling, sometimes these things happen for a reason
  • poorbutrich
    poorbutrich Posts: 1,349 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Can't offer advice, but just wanted to send a hug at what must be a very worrying time. I'm a journalist too - bad enough to make ends meet even when you have job! Still, the execs seem to do ok....
    Overpay!
  • tsharp
    tsharp Posts: 1,532 Forumite
    You're not your job. You're not how much money you have in the bank. You're not the car you drive. You're not the contents of your wallet. You're not your f*cking khakis.
    "I have enough money to last me the rest of my life, unless I buy something."
  • robnye
    robnye Posts: 5,411 Forumite
    Part of the Furniture Combo Breaker
    tsharp wrote:
    You're not your job. You're not how much money you have in the bank. You're not the car you drive. You're not the contents of your wallet. You're not your f*cking khakis.


    huh? :confused:
    smile --- it makes people wonder what you are up to.... ;) :cool:
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