Job uncertainty - wait out for redundancy?

youandiaredominoes

My job situation is looking under certain as company looks to make cuts. I’ve not been told that redundancy is formally on the cards but HR have mooted it.

If made redundant, I’m entitled to a half decent payout but it’s unclear whether this is will definitely happen - although I think many of the signs are there. My dilemma is that I don’t want to be working in a job that is demoralising but wondering if it’s worth sticking it all out and seeing what happens. Anyone else been in a similar situation?

[Deleted User]

Up to you.

I think most people would be looking for a back up plan so that they have options, but some people are happy to just go with the flow.

Comms69

depends on your age, future prospects, market saturation once your team/dept/company is made redundant, insolvent, whatever.


The first jumper makes it to shore the quickest

MEM62

No harm in checking the job market so you know where you stand. Decisions are best made with all the info. You could also prepare your CV and test the water.

Of course, the holy grail for most is a nice redundancy package followed by waling into a new job a few days later but you need a chunk of luck for that.

sangie595

A nice redundancy package looks great when its a lump sum. Less so once you have started paying the bills with it. I would vote for this being a good time to be looking for another job whilst you have the time to find something you want on the same or better pay. In the end, if that is what you find, I'd go for it - a more secure income is worth a lot more than a redundancy package and unemployment benefits!

youandiaredominoes

I'm still planning a back up option and have a good idea of what I'd like to do. It's a slightly different industry and would result in at least a £10k pay cut, so hence my interest in seeing if the redundancy happens and then aiming to quickly get a job after. I know it's easier said than done but I am fairly confident the payout I could last me about 6 months if I am jobless.

sangie595

youandiaredominoes wrote: »

I'm still planning a back up option and have a good idea of what I'd like to do. It's a slightly different industry and would result in at least a £10k pay cut, so hence my interest in seeing if the redundancy happens and then aiming to quickly get a job after. I know it's easier said than done but I am fairly confident the payout I could last me about 6 months if I am jobless.

And if your chosen option takes 12 months? Or 24 months? Or never? And in the meantime benefits payments are getting harder - was shelf stacking at Poundland for benefits on the option list? By all means think about industry you'd like better. But remember, best laid plans and all that.... I'd still strongly recommend that you think about jumping when the chance comes. £10k less a year is almost certainly still more than shelf stacking for benefits!

getmore4less

Sometimes it is an opportunity to engage and secure your own future.

If you generally like the place supporting change can secure a future as can suggestions on how your job is not needed can secure a departure.

Start the cash preservation in anticipation.
Every 2 fulls weeks redundancy is worth around 3weeks take home.