Got made redundant today

Deep_In_Debt

Sorry to hear your news. I'm in a similar situation. Been issued with a notice of potential redundancy to go formal soon. On the plus side, I've been with my company nearly 12 years so should hopefully get enough of a pay off to clear the majority of my debts.

As Dinah93 suggests, check with your union. I'm on 12 weeks' notice and if I wish to leave before I could lose a fair whack of money, so I'm intending to work my notice and worry about job hunting nearer the time so I can leave at the end of my notice period. I'm happy in my job and don't want to leave, so am happy to work my notice so that I also get my holiday entitlement paid tood.

duchy

chal wrote: »

I would hate to think what a union containing software engineers would be like! Get 100 SEs in a room, and if two agree it's a majority

Thanks for the suggestion though.

LOL
How true

chal

Deep_In_Debt wrote: »

Sorry to hear your news. I'm in a similar situation. Been issued with a notice of potential redundancy to go formal soon. On the plus side, I've been with my company nearly 12 years so should hopefully get enough of a pay off to clear the majority of my debts.

As it turns out, i start work at my new job on the monday following my last day at my current one (which is a theoretical last day - i don't have to work out my notice period, so right now i'm about half-way through Indiana Jones and the Last Crusade before hanging some laundry and doing some sunbathing ) The upshot of all this is a stronger financial position and a better deal at my new job - there have been no downsides to this at all, with the possible exception of having to wear a tie to an interview!

Hope things come together for you with your work situation, and you get something else lined up quickly. Which business are you in?

Deep_In_Debt

Hi Chal
I'm in Financial Services but not banking. However, after 12 years in the industry, I quite fancy something different. Not sure what yet but just want to see what's out there. I've been issued with notice of potential redundancy so they may withdraw it if a suitable alternative position arises. However, this is unlikely as the company are trying to lay off staff to save money. I had my notice withdrawn last year so at least I'm getting an extra year's redundancy if it does go the full term this time. Whichever way it goes, I will either stay in my company or look for something different but be debt free so I'm not too worried either way. Due to my length of service I am on 12 weeks' notice so I've got plenty of time to sort things out.

Glad to hear that it's worked out well for you. It's gonna be scary for me to go out into the job market again after 12 years but one door closes another one opens I guess.

chal

Just PM'd you with some info that might help

TurnaroundSue

Deep_In_Debt wrote: »

Sorry to hear your news. I'm in a similar situation. Been issued with a notice of potential redundancy to go formal soon. On the plus side, I've been with my company nearly 12 years so should hopefully get enough of a pay off to clear the majority of my debts.

As Dinah93 suggests, check with your union. I'm on 12 weeks' notice and if I wish to leave before I could lose a fair whack of money, so I'm intending to work my notice and worry about job hunting nearer the time so I can leave at the end of my notice period. I'm happy in my job and don't want to leave, so am happy to work my notice so that I also get my holiday entitlement paid tood.

Not sure about this, but I thought that if you were being made redundant then your company had to give you paid time off work to go for job interviews? Like I say, not 100% sure on this, but only mention it as when I took voluntary redundancy in my job with a bank 8 years ago, they said I was entitled to paid time off to go to job interviews - maybe worth checking out?

Good luck.

gpaul49

try temping to tide you over

Deep_In_Debt

Hi Yes, I've been given paid time off for interviews etc so that's not a problem but I don't wish to leave earlier than necessary (my date is 20th August) as I will lose monthly pay and a proportion of my bonus due to be paid in July and a portion of my holiday pay so I want to hang on for as long as possible.

Temping is something I am considering and have made enquiries. There seems to be a lot about at the moment and paying quite well too.