Best Redundancy Payout

The_Hurricane

Hi All,

Has anyone ever received a really large redundancy payment that changed their life for the better? I mean large in terms of a lot more than expected.

Just curious, maybe an interesting thread.

CKhalvashi

The_Hurricane wrote: »

Hi All,

Has anyone ever received a really large redundancy payment that changed their life for the better? I mean large in terms of a lot more than expected.

Just curious, maybe an interesting thread.

I've never gone through this myself, however the highest redundancy I've actually paid was £117k, when we did a transfer to another country for one member of staff about a year ago.

It would have been a straightforward transfer of contract, however she didn't particularly want to leave us in London, and as a director I was sure that she was one of the few in the office suitable to take a country manager role at the time.

CK

The_Hurricane

Wow that's a big payout, I can understand the employee not wanting to move to a different country.

YoungBusinessman

Thats a fair size of payout that must have been down to a bigger than average salary+years of service aswel, surely?

colino

Sadly you'd be surprised of the public sector jobs that become pretend private sector ones (agencies, boards etc.) that offload many, many staff with retained rights with six figure payoffs. The acid test is when they leave, nobody notices/miss them!

The_Hurricane

colino wrote: »

Sadly you'd be surprised of the public sector jobs that become pretend private sector ones (agencies, boards etc.) that offload many, many staff with retained rights with six figure payoffs. The acid test is when they leave, nobody notices/miss them!

Surely they don't get redundancies and pushed into "private sector" roles?

TadleyBaggie

I had a payout of £100K+ three years ago. I'd been with the company 15 years and got 4 weeks for every year (plus 3 months in lieu of notice). Although I was in my late 50's I managed to get another job within 9 months and so I still have a fair chunk of the payment left.

tower

I got 40k for 12 years service. We were offered a transfer under tupe but all 10 of us choose to leave. And 6 of us returned to work on the Monday for the new company on better money.
12 years later our original company has bought us again and we have gone back in house..

CKhalvashi

YoungBusinessman wrote: »

Thats a fair size of payout that must have been down to a bigger than average salary+years of service aswel, surely?

4 years service, started on £75k, moved to £140k in year 2, then £180k in year 3. She brought us significant amounts of work in (and still does), and took over £500k including bonus in year 2, and £1m+ in years 3 and 4. She took £2.8m last year, and that was the end of year 5.

As I've always said; I look after my staff if they work hard, put the hours in etc etc etc, and our profits for Austria (which is home to the European events department, so a larger team than us) made £322k profit per person last year, and we made £224k in London. She earns more than me, but she's amazing at her job!

CK