Bit of advice needed here I think.

Off work for a few days on extended birthday celebration. Get a call from the boss yesterday asking if im sitting down. He then tells me the new CEO announced that we are to lose upto 80 staff from a total of around 120. Its going to be a 50/50 mix of factory and office.
I decided to start the ball rolling and already have two interviews lined up for this week. My lass tells me to hang fire and wait it out, as I might not be on the list. I think this is a bit of a big risk as I might miss the boat on one of the jobs I have an interview for.
Think I know what im going to do, but wanted some opinions to cement my thoughts.

Cheers

Go for the interviews, it’s always best to have options.

Don’t wait. Get on with it. Even if you are not on the list, you might find a better job anyway. Anyway, look at the odds. You’d be bonkers to wait this out imo, unless you have other information not disclosed.

Not a decision you need to make yet, carry on chasing other jobs and see where it goes, things may just coincide.

Tough one because presumably you want the redundancy package – if you go to the interview you might not be made redundant within your notice period & the new jobs required timeslot to fill the position.

As in, they might say they need someone within 3 months, but the redundancy is planned for 12 months time.

EDIT: As above, I;d still go to the interview, my point is – you might *still* miss the boat on the new job if your redundancy timescale isnt firmed up.

Thems don’t look like good odds to me. Get the **** out of dodge! And look on any redundancy payment as a possible bonus you might get if the planets all align (they rarely do!)

Having a job is much more important. You’ll soon burn through any redundancy payment when you’re not working

What sort of redundancy package might you be walking away from? Vs losing the opportunity presented by the two other jobs.

Go for the interviews & consider again if you are sucessful.

Interview regardless. It can take a while to get the point of an offer that would need a decision – and you might find you prefer the one elsewhere anyway.

Cheers guys. As you said I would be a fool not to try for them. Only negative, and its a minor one (Seeing as one interview is with a massive International company) is that the commute for both is 28 miles. Currently doing 3 miles and home in 10 minutes. Done the drive years ago, and was happy with living close to work.

Edit. The redundancy package will be UK standard one. Only been permanent staff member for 1.5 years so payout will be small. Guessing I might actually be on the list as it wont cost them much to get rid of may compared to some of the 20+ year people.

28miles to a job is far better than 3miles to nothing. Go all the interviews then weigh up the options after then, because that’s the point when you will hopefully have options.

Go to the interviews. If they offer you a job then you can approach the subject of when you start, waiting for a redundancy payment and maybe take voluntary redundancy.

As Jonba suggests, if you get offered a new job why don’t you ask about voluntary redundancy? It may help you, your colleagues and your previous company.

Only been permanent staff member for 1.5 years so payout will be small.

You’re top of the list, as you’re the cheapest to lose. Guaranteed! I know thats not what you want to hear. Unfortunately thats just the way it works.

Get yourself ahead of the game, before the ones who have decided to wait are in the market for the same jobs

Binners. Thats my thoughts exactly. I know the boss values me and my work. But at the end of the day im just a monetry value. And the cheapest one regarding redundancy package at that.
Just tried to call my boss now to see if he has any info. The announcment hit him for six yesterday as he thought we were out of the mire, and was about to approach the CEO with a 1 year plan to reduced lead time by almost 75%.

Only been permanent staff member for 1.5 years

In that case payout would be next to chuff all.

I’d be taking that interview if it was myself!

ETA: it always pays to have options.

I made the habit to always jump out first of a sinking ship… good luck 😉

You’re top of the list, as you’re the cheapest to lose. Guaranteed! I know thats not what you want to hear. Unfortunately thats just the way it works.

look on the bright side, that’s not always the case (though it often is). My old work went through a big redundancy program a few years back and it was all on performance basis. If the business has a future you’d want it staffed by competent, motivated people.

80 out of 120? 😯

The boat is already sinking so it’s inevitable that it will sink no matter how much they off load.

Go for the interviews.

In my experience (I’ve been on the receiving end twice), I’ve seen companies get rid of highly skilled, motivated, younger staff, and stick hold of a bunch of lazy, unmotivated, time-servers, who were basically sat around waiting to retire, as they just couldn’t afford to get rid of them. Whereas the highly skilled, motivated, younger staff were cheap to usher out of the door.

Businesses doing that don’t tend to carry on as viable concerns for very long anyway. The writing is well and truly on the wall

The fact that the company is making so many redundancies suggests there’s little or no cash in the business. You’ve got to be a realist in these situations. He’ll be first out of the door. And a redundancy payment for 18 months service will be next to nowt anyway. It won’t last long, thats for sure

I’d be getting the hell out as fast as my little legs would carry me!

Keep your options open rather than waiting for them to be narrowed down for you. Definitely go to interviews.

Well done for getting the interviews sorted. You’re ahead of the game – now stay ahead by getting some more interviews and some actual offers.

Any company that is shedding 2/3rds of its team in one hit is not a good place to be, even if you’re in the other 1/3rd.

Your statutory redundancy won’t go far on 1.5 years service, nothing worth hanging on for anyway. Another way of looking at is do you want to be one of the 40 people doing what 120 used to? Good luck, horrible time for you. Been there.

Sorry, I didn’t read all of the above. I’ve long believed that it’s good to keep your experience of interviews up-to-date, so that you don’t make a mess of the big one when it comes up. So I believe it would be best to go for a few anyway. Though you may meet workmates while sitting in Reception.

Sadly for 1.5 years service youre not entitled to redundancy, https://www.gov.uk/redundant-your-rights/redundancy-pay but the comapny may make you an offer to leave, but seeing as so many are going its unlikely the company has any spare cash, and it will probably be last in first out.

Cheers again.

Just got off the phone from an agency. Got another interview lined up from tomorrow straight after the other one.

Boss just been on the phone. Gist is, the new CEO wants to move the company from a potential 12 million turnover to 8 million with the aim of making some profit. Staffing levels are to big to maintain. Levels have been calculated and my section of 5 people stands to lose 1. Its all on a points system, so fair I guess.

So lots of interviews, get those done, and then cut a deal with your boss – you can solve them a problem. Failing that just GTFO

Good luck with the interviews btw.

Well £12M and 120 people is not a good starting point. £100K per employee is not a great situation. However the question of how the company can function with 40 people and turnover £8M is move of an issue to me. That seems beyond drastic. I would assume that trying for £12M and 80-100 people would be a better option. It sounds desperate.

I don’t see where the OP’s dilemma is,

Stay with a company that’s on its way down hill and work twice as hard in the meantime or GTF out when you can?

I’d be off like a shot in fact, it’s what I did about 15 years ago although no redundancies were announced, I saw the writing on the wall and did one as soon as I was offered the job I went for. The old company went pop 8 months later.

Not a dilemma anymore. More or less decided to go even if my job is safe. Whos to say in a few months time when the new guys plan is failing more people including him will get the boot.
First interview tomorrow is for a company that sounds great at developing staff. Think its a no brainer tbh. Even my lass has come round now lol.

Whether you stay, your boss will get the boot. And then you may not have anyone to protect you.

And why only interview in this sort of situation – everyone should have at least one interview a year. I had four last year and then decided to change job….

Go for the interviews and take a new job anyway. Then someone else can keep theirs if they really need it.

Get out now is my opinion.

Just for reference our site turnover is 22 million a year with 20 staff and still our lords and masters look
for cuts!

That’s good going. Do you sell drugs?

Just for reference our site turnover is 22 million a year with 20 staff and still our lords and masters look
for cuts!

Didnt realise prostitution paid so well. 😳

Turnover isn’t profit though is it 🙂

turnover means nowt if there is no profit margin.

porlus – Member
Boss just been on the phone. Gist is, the new CEO wants to move the company from a potential 12 million turnover to 8 million with the aim of making some profit.

Which is why I posted, our profit margin is tiny, volume is all. If their turnover is only 12 million with 120 staff and they are not making a profit until they hit 40 staff then neither are their margins high

Profit margin has been tiny. Around 5-10% just to get the orders then. Then that’s where it starts to go wrong. Case of too many chiefs and not enough Indians.

You’re top of the list, as you’re the cheapest to lose. Guaranteed! I know thats not what you want to hear. Unfortunately thats just the way it works.

Not always, long-term staff could be very expensive with final-salary pensions and the like so they need young and/or cheap staff going forward.

project – Member
Didn’t realise prostitution paid so well.

its an old profession but not that old 😉

porlus – Member

Profit margin has been tiny. Around 5-10% just to get the orders then. Then that’s where it starts to go wrong. Case of too many chiefs and not enough Indians.

Probably too many Chiefs & Indians & if you think 5-10% is tiny your obviously not working in the same sector as me!