We'd like to remind Forumites to please avoid political debate on the Forum. This is to keep it a safe and useful space for MoneySaving discussions. Threads that are - or become - political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

About to be made redundant again. Not sure how to play this?

So we got taken into the office yesterday, boss is selling up, knew it was coming as he’s getting on now, the business is in an industrial estate, boss owns it all so quite a few people will be made unemployed.  The land will be used for housing.  

I’m there 10 years so 10 years redundancy.  The boss said no voluntary redundancies at present, when the business is sold we’ll all be notified,   Now I said I’ll be made redundant again as this will be time number 3 a firm I have worked for has closed,  I know the crap that follows, waiting months for a payout,  taking any crappy old job just to pay the bills and them jobs are usually awful, you dread going to work every day, the bullying the sleepless nights the generally being treated like dung, the just hating life because of these crappy jobs.

I look now at the market, came across 3/4 decent jobs I would probably get but of course if I go now no redundancy, I don’t know how long it takes to sell ground or a business, It may take a month, it may take a year or two, there’s also talk of a mini recession looming which may effect the sale.

unsure what to do so any advice appreciated 

Comments

  • YBR
    YBR Posts: 615 Forumite
    Seventh Anniversary 500 Posts Mortgage-free Glee! Name Dropper
    Is it possible that the business might be sold as a going-concern and your job would continue (perhaps re-located?)
  • n1guy
    n1guy Posts: 698 Forumite
    Part of the Furniture 500 Posts Name Dropper Combo Breaker
    YBR said:
    Is it possible that the business might be sold as a going-concern and your job would continue (perhaps re-located?)
    The business itself has been running at a loss for a while apparently, Boss just wants rid and to retire.  The building itself is old 1950s and is leaking and crumbling, it would just need knocked down so can’t see anyone wanting to buy it.  The land associated is massive and would get quite a decent size housing estate on it. 
  • gwynlas
    gwynlas Posts: 2,044 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    If you can secure a good job straightaway then forgo the redundancy payment as it would not be much amd you might have to wait for it. Why put yourself through the stress?
  • penners324
    penners324 Posts: 3,352 Forumite
    Fifth Anniversary 1,000 Posts Name Dropper
    gwynlas said:
    If you can secure a good job straightaway then forgo the redundancy payment as it would not be much amd you might have to wait for it. Why put yourself through the stress?
    15 weeks tax free as a minimum doesn't sound 'not much'
  • Ath_Wat
    Ath_Wat Posts: 1,504 Forumite
    1,000 Posts Name Dropper
    If you could get 3 or 4 good jobs now, what makes you think that if you wait for redundancy you will have to  take "any crappy old job just to pay the bills."?
  • lincroft1710
    lincroft1710 Posts: 18,342 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    No harm in applying for these jobs, there's no guarantee you'll get one of them. Only if you get an offer do you have the dilemma of "Do I take this job and leave now or do I wait around, take the redundancy and hope the money doesn't run out before I get a new job?" 
    If you are querying your Council Tax band would you please state whether you are in England, Scotland or Wales
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Does the boss want you to stay?  If so, negotiate a bonus to remain to the bitter end. . 
  • n1guy
    n1guy Posts: 698 Forumite
    Part of the Furniture 500 Posts Name Dropper Combo Breaker
    Ath_Wat said:
    If you could get 3 or 4 good jobs now, what makes you think that if you wait for redundancy you will have to  take "any crappy old job just to pay the bills."?
    Yeah I know. The job market is actually decent at the moment, best I’ve seen in quite some time.  Just worried that may change 
  • Scorpio33
    Scorpio33 Posts: 747 Forumite
    Part of the Furniture 500 Posts Name Dropper
    Always go for the job over redundancy, if it is the correct job. Having been made redundant 5 times myself, I feel your pain. The key is knowing if this other job would be that good.

    The only thing I would say is to speak to your boss, once you have an offer of a new job (which you don't have to take). Having been there 10 years, he may offer you better terms. But long term stability is always better than the redundancy. For me, mental health is always more important than money.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 348.2K Banking & Borrowing
  • 252.1K Reduce Debt & Boost Income
  • 452.4K Spending & Discounts
  • 240.8K Work, Benefits & Business
  • 617K Mortgages, Homes & Bills
  • 175.6K Life & Family
  • 254K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16K Discuss & Feedback
  • 15.1K Coronavirus Support Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.