I am being upgraded from Mum to Nan - I need a plan!

Mum2Nan

I have been in a permanent state of anxiousness since last Friday morning when I received the news that my job was identified as being ‘at risk of redundancy’ as part of a wider consultation.  I have not slept or eaten properly since.   

As my company will only pay statutory redundancy, I am going to be hit quite hard due to the weekly earnings cap as I summoned up the courage to check the calculations on the Government website this afternoon.  Worst case scenario is I will receive around £9K possibly slightly more depending on how notice periods work.  I know I’m jumping the gun because no decisions have been made yet but the timing couldn’t be worse (I know there is never a good time) due to me having to re-mortgage later this year and getting an improved interest rate and a balance transfer needed before December and then have to try and find another job.  I have got to live with this hanging over me for another 7 possibly 8 weeks.

I am still working from home and with a pay cut so have found it very hard to get motivated.  I imagine productivity for our company went through the floor on Friday after 1,000 staff received the same news.  Hopefully, as it finally sinks in and the process progresses and becomes clearer, I will have a better idea of how realistic my chances are of keeping my job.

I’ve told my family and they are being very supportive as I knew they would be.  Dad says everything is going to be ok, it will all work out.  My Dad’s glass has always been half full.

DD called me yesterday and asked if I could book Thursday off to look after DGS as she has back to back meetings.  I don’t think she has though, I think she thinks DGS will take my mind off worrying for a while and she’s probably right because I can’t wait to see him.

I’m so pleased I got back on the MSE wagon when I did earlier this year.  I would probably be in a much worse position now if I hadn’t. 

Does anyone else read back on their diaries?  I do.  I have occasionally read back my first post and I seemed rather blasé about it.  I hope I can look back on this post in a couple of months’ time and it will spur me on to continue with debt busting.  It’s made me realise just how important savings are.

beanielou

So sorry to read this.
Take care & keep plodding.
Enjoy having your DGS 

Blackcats

I'm sorry to read this.  The uncertainty is very hard particularly when you are isolated from your work colleagues whilst working from home.  As you rightly say the improvements you have made to your finances and the way you manage your money have put you in the best possible place in these challenging times.  

Mum2Nan

Thanks @beanielou and @Blackcats

With the events and updates at work this week I am almost certain I will opt for voluntary redundancy.  There is to be a 30% reduction of the workforce within my team.  The way the restructuring appears to be working is if I apply for a new role (all existing roles are redundant) on my current banding and am unsuccessful as there are limited roles and stiff competition, I could be offered another role on a much reduced salary and within another part of the business, neither of which I am comfortable with as if I decline the offered role I won't qualify for a redundancy payout.  I won’t have to work my notice period so will receive a month’s salary on pre-lockdown pay, will be paid for any accrued holiday and statutory redundancy which comes to almost £11K.  I will apply for a 3 month mortgage holiday tomorrow to give me some further breathing space. 

I admit to feeling a little sorry for myself on Friday evening and drank far too much resulting in waking up yesterday morning feeling very unwell.  Moving swiftly on… 

I have dug out my old CV this morning so will spend time over the next few days updating that and then start flooding agencies and some of my contacts with it and also let it be known within my industry I am looking for work.  I will consider full time or fixed contract so that’s where I am job wise at the moment.  It’s been a very upsetting and unsettling few weeks but feeling sorry for myself won’t pay the bills.  I also think it’s wise to get ahead of the game before others start this process once they’ve heard whether they have been successful or not.  Who knows, I could be lucky and find something sooner rather than later.  Although my company know none of this at the moment, I will be paid my final expenses next week and will not being incurring any further ones, someone else will have to pick up the tab.  My company will also have to arrange collection of my laptop, mobile phone and security pass as I do not want to waste £30 on commuting costs which I think is reasonable.

My parents came over yesterday and have talked them through my options and they agree and support my decision.  Surprisingly, now I am over the shock of it all and have made a plan, I do feel more in control.  Fingers crossed it stays that way but expect there will be a few bumps along the way.

Mum2Nan

Oops, forgot to say I had a lovely day with DGS on Thursday.  We went to the park amongst other things.  I felt quite exhausted by the time I finally got home and ended up having a very early night!

Mum2Nan

My work motivation is pretty much zero as I would not normally post at this time of the day.

I called my parents yesterday not long after I posted on here but Dad answered rather than Mum.  This would usually mean I am going to say ‘I’ve decided to stay home’ and to be fair I was but he sounded so disappointed as he said ‘you’re not coming over are you?’ and before I even had a chance to think I said yes, I’m just ringing to say I’m going to be late.  After I put the phone down, I had to get a wiggle on.  Fly Lady had nothing on me!  I then jumped in the shower and was dressed and flew out the door.  I put the air con on full blast in my car so my hair was almost dry by the time I got there. I don’t want Mum and Dad worrying about me.   I had a nice time and a lovely Sunday dinner.  I know I am so lucky to have them.

On the job front, life seems to be changing by the day at the moment.  The good news is I can’t be offered a role I have not applied for, so I have nothing to lose by applying for the roles that are  similar to my now redundant one so redundancy pay is now not at stake.  I really want this in writing though.  I shall need to go through an interview process which seems rather bizarre considering the time I’ve been there.

I have spent sometime today updating my CV.  I feel bad I’ve spent company time doing it but it does say in the redundancy pack I am allowed a ‘reasonable amount of time off for undertaking interviews’ and I won’t be able to do that without an up to date CV so have taken the view this must be included.   I shall finish it off tomorrow and my immediate boss wants to peer review it before submitting it by the deadline next Friday.  He clearly doesn’t want to lose me as he has also offered to put some time aside in his very busy calendar to conduct a couple of practice interviews.  Unfortunately, he has no input into the outcome.  If that was the case, I would have nothing to worry about.

In trivial news, I have been gently experimenting with Laurel & Hardy’s food.  They cost me a lot of money each month, around £50 (which I do try and keep down by buying their food when it’s on offer but there have been no offers recently) with some success.  Laurel prefers wet food whilst Hardy seems to prefer dry but when Laurel’s food has gone, he seems happy to eat Hardy’s leftovers so a balance can be found, I think.  They are both booked in for their delayed jabs at the end of the month.  I have enough in my cats pot for this.

I’ve put up a message on my FB page.  I only did it because it will come up as a memory this time next year so I can see how my life will have changed between now and then!

Baileys_Babe

That is very positive news that your immediate boss is willing to offer you so much support.

I'm glad you decided to go to your parents for lunch yesterday, it probably did you the world of good. I can fully understand why you were reluctant though.

Blackcats

Hi mum2nan - I'm glad things are a bit more positive at work.  I would be a little cautious over voluntary redundancy packages as these can affect your ability to claim some benefits as it can be viewed that you made yourself deliberately unemployed 🤷‍♀️.
if you go into the redundancy process, then roles that are offered to you have to be "suitable alternative employment".  Whilst there is no clear standard definition of this, a role on lower pay could be suitable if you were given a period of pay protection.  Likewise a different location could be suitable if excess travel costs are covered.  

Hope that is useful and happy to help as the situation progresses for you. 

Mum2Nan

@Baileys_Babe - You are so right, it did do me the world of good.  All I would have done was sit indoors and feel sorry for myself.  I probably would have ended up buying another bottle of wine or two from the shop over the road costing me money I really can’t afford to spend right now and I want to try and stay positive despite the difficult situation I am in. I also don't think I can manage more than one hangover in a week!

 @Blackcats - Thanks for your kind offer of help and advice which I will be taking if you don’t mind.   I hadn’t given benefits any consideration until you mentioned it.  I am seriously hoping I don’t have to go down this road.  I have checked all the questions raised and answered so far and clearly someone else is clued up as it has been confirmed there is no pay protection for a role on reduced salary.  This is not surprising considering our company will only pay statutory anything.

The good news is my CV is now up to date.  I have to say I’m pretty pleased with it.  I’ve sent it over to my immediate boss for peer review so will wait until he comes back with comments.  It will probably need tweaking once I receive the Job Descriptions so I can align it properly.  Two people have already requested voluntary redundancy and are awaiting to see if they’ve been accepted.  I just need another few others to do the same and I will be home and dry!

The next consultation is Friday morning.  Our employee reps are doing a fantastic job.  They will make sure we have an update by late afternoon. 

Trying to stay positive, I have applied for the mortgage holiday.  It’s too late for August’s payment but that’s fine as I will receive my post lockdown salary and have managed so far but it’s good to know I have 3 months breathing space from September if the worst should happen and it won’t affect me re-mortgaging which is even better news.

A few of my work colleagues are complaining they are comfort eating due to worrying.  I am completely the reverse but I don't recommend this diet.

Blackcats

Hello mum2nan - it's good that your staff reps are doing a good job for you and your colleagues.  I remembered that you are also entitled to a 4 week trial in any new job to ascertain that it is suitable.  It can get a bit tricky proving that it's not suitable but I've known some people do the 4 weeks to eek out some more money.  Lots of good information from Acas who set the minimum standards.
https://www.acas.org.uk/your-rights-during-redundancy/taking-another-job-with-your-employer
It sounds very trite but try not to worry so much that it impacts your wellbeing.  Try and eat too - you need to be fighting fit to get the best outcome for you 👍