MegaSack DRAW - This year's winner is user - rgwb
We will be in touch
All those who have been made redundant and are desperately searching for another job to make ends meet may want to look away now - and my apologies and sympathy.
I've just got a letter to say my job is at risk. Checking the online docs I would appear to be in a pool of 43 with 5 jobs to go. The thing is, with our terms I would get a bit over 3 years money if I got made redundant (accounting for the fact I'm currently part time, but would get redundancy payment based on full time pay as I only switched 18 months ago). So should I put in for voluntary? It's very tempting for that amount of money. Don't really have any very firm plans for what to do, but it would be tempting to try and do something a bit more outdoorsy than my current software job (I have some vague ideas). The downside being that if I did get another computer job I'd almost certainly not get the 6 weeks holiday and 10 minute commute I currently have.
I should point out I'm not hugely well paid, so it's not a fortune, but obviously I wouldn't have to work for a while - at least not until the economy should have picked up enough that there will be plenty of jobs going.
Oh, and this is probably wishful thinking, as I suspect I wouldn't get it even if I apply (the words used in the consultation doc would suggest at least 2 of the 5 they probably already know who and I don't think it's me).
If you already want to leave anyway then take the money and run
Only you can tell what's right for you. I took a VR package, but that included early retirement. I left a very well paid IT job and I'm now working in a bike shop (for a pittance) but loving it.
Are you absolutly sure thats what the terms are? It seems a heck of a lot for someone who is only part time. Are you sure its not one week for each years service ie 3 weeks pay?
Are you absolutly sure thats what the terms are?
Yep - 8 weeks per year, been there 16 years. It does seem a lot - I was surprised - but I'm TUPE'd ex CS.
I'm disappointed not to even get much in the way of unhelpful comments...
If it's 3 years pay I'd do it in a shot. Even if only to take a year off travelling/riding around the world.
If you don't do it do you not think you'll spend the rest of time wondering what would've happened if you did? I know I would!
Get it done! Checking that the VR terms are the same and applications are accepted before you go to far mind.
Ask for confirmation of the exact terms before you do anything at all. Thyere may well be clauses, like "up to a maximum of" and so forth. Then is alls cushty go for it.
It will probably be three years of your current pay. It's forward looking not backwards. You can certainly look on it as an opportunity. Probably worth finding out what is on offer by way of jobs. Are they more interesting or larger in some way. If not, were you looking to leave anyway?
I am in a a similar position (not 3 years pay though, just 15 months), you also have to bear in mind the 1st 30K is tax free, so it will be a bit more than you think it will be.
are you married? have kids? as if not it could be a great way to get paid to travel for a year or so until the economy recovers.
Things I would be thinking about are; do you feel you are wasting your life in your job? how much do you enjoy going to work? and how motivated are you in general? As you will need to get off your arse and make some big/difficult decisions in order to make the most of the time off. Which could be hard as at 16 years you run the risk of being institutionalized. Sounds like a once in a lifetime offer though, which will be life changing BUT just how much depends on how motivated you are to make the most of it.
and finally if you don't get it, you will have to put up with some BS manager/HR sessions on why you applied, and what they/you can do about it.
Bloody Hell - thae the money and run, spend the next year biking and skiing around the world/
Beware as they are easily just as entitled to give you £350 per year!!
dont bank on the employment curve following recovery when it comes, it generally comes later (6-12 months) historically, appreciating every recession has differences.
This one is bad though as its driven by the heart of the economy - finance, rather than particular industries or services.
If its a huge lump, then clearly decision to make, however, better to earn if you need to and be sure of revenue i feel in this environment in my view but all circumstances are different so you need to decide but agree with a previous comment, if you really dont wanna be there, then its worth going and going with a cheque that buys you time to get what you want - POSSIBLY and hopefully.
as for wages, not sure if the part time / full time is agregated or it goes on current pay, when you went part time did you get a letter outlining changes in your Ts and Cs? think this may have a bearing on your outcome.
for this advice you just need to give me a measly 3.5k to sort me a yeti.
paypal fine
regards
Dr Ripaknoclouwalough (waka waka government finance minister with 2 million USD in bank holding for you - please send me account details and £35)
Got kids - 2.5 years and 2 months, which is what makes the decision a bit less straightforward. If the opportunity had come a few years ago I'd have been off like a shot and spending 6 months in NZ next winter (then 6 months in Norway the following winter to get my skiing fix).
I really am pretty sure about the terms - the part time thing makes it more attractive to go now rather than wait for another round, since redundancy is based on your best weekly pay in the last 3 years.
Do sometimes enjoy my job - certainly satisfaction in some of what I do. However I can't say I'm that often keen to go in in the morning. Things have certainly gone downhill here recently in terms of job irritations. The trouble is in a year or so time I'll possibly be faced with the same problem in a different job, but with a week less holiday every year, and less flexible hours. I think if I'm going to jump I need to be planning on doing something completely different, and I'm not quite sure I can manage that for the next 20+ years I need to work for.
The thing is, I get the impression I'm not the only one here thinking this way - the only other person I've spoken to in my group is in a very similar position and making similar noises. I don't want to start making too grand plans to find they don't let me go anyway.
i think take the package. everywhere i know that has accepted voluntary redundancies has gone on to make enforced redundancies a few months later with far far worse terms. those who went first got the biggest payout.
are your redundancy terms set in stone? as I know where I am they are working on changing ours towards the industry average (ie: £350 per week per year, max 12 weeks) which might be something to bear in mind
They're effectively part of my contract (TUPE), so they can't just change them without union agreement. Though they have been busy making more minor changes to our contracts recently, and do seem to have a knack of offering two unpalatable alternatives...
Fairly sure there won't be another round for a little while - our business isn't in that sort of position, this is just a trimming and efficiency exercise rather than the start of a wind down (personally I normally have plenty of work). It's not just a VR exercise anyway - they've said how many are going, and some people will be going on compulsory (there's a job pool similar to mine with 2 people in and 2 going).
cool, well good luck whatever you decide.
Its looking like I have a similar decision to make next week (but with a smaller payout)