Can I ask for redundancy if workload has decreased?

Ozzuk

Another way to look at it, how confident are you that you'll find another job? If you aren't that confident then weigh up the 10k versus how long it could take to find something - 6 months? A year? Suddenly the '10k' doesn't look as good as having a new job, potentially better pay, better conditions etc. I'd jump ship in your position, using the current free time to upskill.

jamesmorgan

Statutory redundancy pay is capped at £489/week so if you are under 41 the maximum you can get for 10 years service is £4890.

https://www.gov.uk/redundant-your-rights/redundancy-pay

Gavin83

John_Chip wrote: »

It is a small company - I carved out my niche over ten years with a lot of effort.

I would like to move on - a lot easier with a 10k cushion.

Bottom line - my company cannot afford to make me redundant and I’m not walking away with nothing after 10 years of work.

Front line austerity UK.

I don't know where you've got the £10k figure from. What no one here has stated is that redundancy payments are capped at £489 for every year you work, so £4890 and this is of course assuming you earn more than £489 a week. You get a week and a half for every year you were over 41. Companies are free to pay you more than this if they wish but given they don't seem keen to make you redundant and you say they've got no money I see this as unlikely.

If you are that concerned about your position find another job and resign. You aren't entitled to anything just because you've been there 10 years.

nicechap

If the company goes belly up, there be quite a delay before getting anything out of the government scheme.

Whilst on JLA/ universal credit waiting for it, think how much better life would have been in another job taking on new challenges, earning a wage & saving for a pension.

Pricivius

Whilst it is the case that there is a cap on statutory redundancy payments, these are the minimum required by law. A company can pay as much as it wants to and some companies have very generous redundancy policies. It may be the case that OP's company is one of the generous ones that possibly doesn't cap the weekly pay, or gives more than 1 week per year of employment.

lincroft1710

Pricivius wrote: »

Whilst it is the case that there is a cap on statutory redundancy payments, these are the minimum required by law. A company can pay as much as it wants to and some companies have very generous redundancy policies. It may be the case that OP's company is one of the generous ones that possibly doesn't cap the weekly pay, or gives more than 1 week per year of employment.

But if the company goes under as OP keeps suggesting, he'll only get statutory redundancy.