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Just got told my job is no longer there

I got called to a meeting a couple of weeks ago along with many other of my workmates, and we got told we were on 45 consultation. Tuesday this week, I was told that my role is no longer available as of the end of next month. I have been expecting this as we have very little work in.

I have another meeting next week for for an individual one to one, where I get to discuss my future. I will be either offered redeployment or redundancy

At the moment I am on a 16k basic but making around 22k with bonus. Most of the redeployment roles are as an adult apprentice, I think its around 12k a year. Long term when qualified and trained this would lead to an ok wage of mid 20k.

My head is allover the place. I really don't know what to do. I am struggling with debt on my current wage, but battling and lowering it, and its working slowly. But I don't know how I could drop to 12k for a year. At the moment I don't know what they would offer as a redundancy package. I have got a bit of an idea in my head for my own business if I got a decent payout and could buy what I need to start up.

I will post a bit more next week when I find out more at my one to one.

For the first time in 15 years, I am going to have to think of a completely new career.
LBM 16/03/2015:eek:
Starting debt £27926 :mad:
Current debt £25705
Aim to be debt free by 03/2021 :beer:
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Comments

  • asajj
    asajj Posts: 5,125 Forumite
    Tenth Anniversary 1,000 Posts Name Dropper Rampant Recycler
    I'd wait and see what they offer. Hope it works out well for you soon.
    ally.
  • elsien
    elsien Posts: 36,343 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Do you know what their redundancy policy says? If they only pay the statutory minimum, which many companies do, there's a redundancy calculator which will give you some figures as a starting point.

    https://www.gov.uk/calculate-your-redundancy-pay
    All shall be well, and all shall be well, and all manner of things shall be well.

    Pedant alert - it's could have, not could of.
  • TheNut
    TheNut Posts: 56 Forumite
    elsien wrote: »
    Do you know what their redundancy policy says? If they only pay the statutory minimum, which many companies do, there's a redundancy calculator which will give you some figures as a starting point.

    https://www.gov.uk/calculate-your-redundancy-pay

    That is pretty scarey, if they pay the minimum amount, I'd get just over £1200
    LBM 16/03/2015:eek:
    Starting debt £27926 :mad:
    Current debt £25705
    Aim to be debt free by 03/2021 :beer:
  • asajj
    asajj Posts: 5,125 Forumite
    Tenth Anniversary 1,000 Posts Name Dropper Rampant Recycler
    How long have you been there?
    ally.
  • TheNut
    TheNut Posts: 56 Forumite
    4 and a half years
    LBM 16/03/2015:eek:
    Starting debt £27926 :mad:
    Current debt £25705
    Aim to be debt free by 03/2021 :beer:
  • TheNut
    TheNut Posts: 56 Forumite
    Great news, I have been accepted as an apprentice starting in January. I will work in my current role till then. Also they have gave me salary protection, so I won't have to take the apprentice 12k wage. They are basing my training salary around what I am earning at the moment.

    This has turned from being really scared to being really positive. Long term its a better job and once I am qualified I will be on a lot more than I am now.
    LBM 16/03/2015:eek:
    Starting debt £27926 :mad:
    Current debt £25705
    Aim to be debt free by 03/2021 :beer:
  • C_Mababejive
    C_Mababejive Posts: 11,668 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    #7 Really pleased to hear that what was a possible trauma has worked out for you,,happy days :)
    Feudal Britain needs land reform. 70% of the land is "owned" by 1 % of the population and at least 50% is unregistered (inherited by landed gentry). Thats why your slave box costs so much..
  • missbiggles1
    missbiggles1 Posts: 17,481 Forumite
    10,000 Posts Combo Breaker
    Congratulations and good luck!
  • bingo_bango
    bingo_bango Posts: 2,594 Forumite
    Lemonade from lemons!!!

    Congratulations, and good luck for the future. Nice to see a good news story for a change.
  • Congratulations! You must be really elated with the news.
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