Big Choice To Make

shaz77_2

Hi All,

Today I turned 29 and on Friday I found out that my role at work is being made redundant and that 75 people are to be laid off altogether.

I have the option to take a redundancy package which works out at 5 weeks pay for every year I've worked there; I've been there 6 years so this works out at around £12,000.

I can opt to remain in the company and take a demotion which will likely return me to a call centre role, something I moved on from back in 2008. While I would keep the same salary I would not be eligible for company pay rises as I'm currently on more than my counterparts.

I have an evening job which includes 2 shifts per week (£40), I could secure a few more shifts but I'm unlikely to make anymore than £100 per week.

My existing role is safe until the end of March 2013 so I've a little bit of time to play with and I have a house with a mortgage of 90k on it.

I had been contemplating leaving the company prior to this announcement, however now the prospect is real it's an entirely different story without the knowledge that I'll be going into another job.

What do people feel my best options are, has anyone been in a similar position and if so how did it pan out? Do I have the right to say that if the company really wants me to leave then I want £15k and not £12k?

Thanks in advance.

tonyh66

Do I have the right to say that if the company really wants me to leave then I want £15k and not £12k?
don't think so the redundancy will be set in stone 5wks/yr, good luck with your decision. Nothing stopping you from taking lump the after a while applying for a call centre job.

Pee

You could always try negotiating, but realistically, I doubt they would be interested. After all having someone move back to a role they can cope with easily is not a bad thing for the firm.

I would work out how long you could manage on the money and consider making the jump if there are plenty of jobs that you feel qualified for/ suitable for nearby. I admit I am biased because I don't think I could cope with working in a call centre...

Going down a level makes it harder when applying elsewhere to convince other firms you should be at a higher level or work well there, so maybe taking redundancy would be better for future career option.

(Hope whatever you do works out.)

Buellguy

my thoughts only OK, you have until March - personally I'd be out there looking for another job now and take the redundancy

The_Saver_2

I took voluntary redundancy and it is the best thing I ever did. From the moment I made my decision, I did the following:
a) started budgeting hard so that I got used to not having much money coming in (and the money I saved was an added buffer to my redundancy payment when I finally left my job).
b) I compiled my CV and started sending it to recruitment/temping agencies
c) I maximised the time my employer allowed me to take off (in company time) to attend interviews and do courses
d) I undertook an ITQ2 course (Government subsidised so it only cost me about £38?)
e) I worked out a new "work" schedule (post redundancy) so that I didn't slip into complacency and still had a structure to my day. (I think this is really important as it's amazing how quickly the week goes when you don't have to go to work).

The decision you make should be dependent on what your priorities are. I was disillusioned with where I worked and it was turning me into a real negative person who was wishing my time away so I wanted to stop it in its tracks. I ended up taking a 5 month sabbatical (occasionally applying for jobs if something took my eye). I am now in the middle of a 6 month contract which pays more than my last job and I am budgeting hard again to have another sabbatical when this finishes in March. I also intend starting my own company after Christmas.

The best of luck with your decision.

Bigmoney2

The_Saver wrote: »

I took voluntary redundancy and it is the best thing I ever did. From the moment I made my decision, I did the following:
a) started budgeting hard so that I got used to not having much money coming in (and the money I saved was an added buffer to my redundancy payment when I finally left my job).
b) I compiled my CV and started sending it to recruitment/temping agencies
c) I maximised the time my employer allowed me to take off (in company time) to attend interviews and do courses
d) I undertook an ITQ2 course (Government subsidised so it only cost me about £38?)
e) I worked out a new "work" schedule (post redundancy) so that I didn't slip into complacency and still had a structure to my day. (I think this is really important as it's amazing how quickly the week goes when you don't have to go to work).
This is so true, its amazing how easy it is to slip into bad habits, get up late, leisurely breakfast, bit of tv, emails and before you know it days and weeks have gone.

The decision you make should be dependent on what your priorities are. I was disillusioned with where I worked and it was turning me into a real negative person who was wishing my time away so I wanted to stop it in its tracks. I ended up taking a 5 month sabbatical (occasionally applying for jobs if something took my eye). I am now in the middle of a 6 month contract which pays more than my last job and I am budgeting hard again to have another sabbatical when this finishes in March. I also intend starting my own company after Christmas.

The best of luck with your decision.

I would also do a SOA to see if you can cut your expenditure
Maybe also log what you currently spend, amazing how much is frittered on coffees, magazines etc.

Also check with employer what would happen if you agree to redundancy and then get a new job before next march.

getmore4less

Reviewing he budget is a good idea especialy as work related costs go down and you can economise, review all regular expences like tv,internet,phones car, they eat money.

Redundancy is tax free(upto £30k) so every two weeks is like 3 weeks take home. 30 weeks is more like 45 weeks.

Check how the extra job impacts contributions JSA.

Check if they will PILON gives a few more weeks.

Check what the policy will be if you get job.

Check how counternotice works in case they are not flexable on leaving early.

Check how suitable alternatives work, they may need to have some people stay on these lower grade jobs and could try to make them suitable.

With 75 involved unlikely negotiation will be possible unless they need you for something,

Check your dates for the extra year.
try to preserve the holiday to get it paid allthough they can make you take it all.

Don't burn any bridges people move around and the work world is a lot smaller than people realise.

As you were looking to leave anyway this can make it work out well cashing in years of service with a redundancy payment is not always possible.

DO NOT tell anyone how the job hunting is going especialy if you get any offers, even if the company makes it clear you can leave erly keep your cards close.

If you know others that are good consider them when looking at jobs.

Many places have recruitment bonuses or may be looking for a team of people.

Network, a lot of people get interviews/jobs by word of mouth so use all your contacts.