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sorry to use the cliche thread title, but here we are.
my role is to be made redundant, most likely at the end of March. I've been there 14 years & a bit and I'm on a not unreasonable salary for Bradford, so the redundancy package is going to be substantial. Not substantial enough to retire on but it'll pay the mortgage for a good while.
I've seen a few threads on here like this, but I feel strangely not sad, or shocked, or disappointed, but I'm actually quite happy 8O. I'm looking forward to my next job, whatever that may be, maybe a few weeks off, and having some money in the bank for a change
and it the phone just rang with an interview for next Wednesday, contracting...
I feel weird that I'm not disappointed
Don't take too long off, it's amazing how quickly that money drip, drips away....
All the best mate, I bet it's the best thing that happens to you.
I'm supposed to find out tomorrow if I'm to be redundant. Sadly my company only offering statutory redundancy 😕
I keep seeing stories about redundancies at the same time as the official figures keep showing unemployment falling. Something's not stacking up...
Good luck in your job hunts. As a contractor I expect to have to go through it at least once a year, it's not easy
brooess - Member
I keep seeing stories about redundancies at the same time as the official figures keep showing unemployment falling. Something's not stacking up...
[url= http://singletrackworld.com/forum/topic/how-many-armies-does-the-queen-have ]It's the Queen's doing.[/url]
Best of luck in the job hunt, and enjoy the time you have to discern where you want to go! Seriously, I hope it is not a trial for you.
Sadly my company only offering statutory redundancy
same here, but I've been there 14 years & I'm on a decent salary now, so it should stack up to somewhere around £18k. We have savings that were going to go on a new kitchen, C/H system and possibly a holiday, but add that to the redundancy package & that's equivalent to about a year's take home... Hopefully it won't take a year to find the next job
ideal scenario is for Wednesday's interview to work out with an offer of a contract and start mid April. I could do with a couple of weeks off.
I've known people go contracting at this company before and be there for 5-6 years on contract rates.
I was made redundant in February and had similar feelings to yourself. The company I worked for went bankrupt so I was only entitled to statutory redundancy payout but hey ho life goes on. I have not rushed the job search and plan to find something that is right for me. I did plan to make the most of the weekdays by riding the malvern hills while they're at their most quiet but that hasn't quite worked out.
I hope I'm wrong but I fear statutory redundancy is capped at something like £300 per year, which rules out 14 grand. Let's hope I'm wide of the mark.
The cap is £464 pe week per year of service so 14x464 = 8500ish
Plus my pay in lieu of notice = 12 weeks at full pay. That's another 9500ish. Like I said, not a bad salary
And I have a day and a half holiday accrued but not yet taken
Excellent, I should have guessed you would have checked.
And of course there's my salary for March to add in as well.
Redundancy was the best thing that ever happened to me. Totally changed my job after 20 years doing the s..a..m..e...o.l.d...b..o..r..i..n..g...c..r..a..p.
It was totally out of the blue and I was shocked TBH but only because I know I had to get my finger out, retrain, and get applying ASAP. Once you know it's coming for sure it is a bit of a bind having top go in for the last few weeks though....!
Go for it! You'll be fine! 🙂
I hope I'm wrong but I fear statutory redundancy is capped at something like £300 per year,
You're right, but it's only a minimum. My previous firm looked after me very nicely. I used to dream of getting £10k but got £17k for 11 years service.
Oops, my bad. 14 x 464 = 6500 ish, not 8500 ish
Still, add in March salary and it comes out just shy of 19k
But wont you pay tax on the the 12 weeks for lieu of notice so will be a reduced figure.
Adding another name to the redundancytrackworld thread.
Funnily enough, all I've felt is relief too!
Agencies have proven pretty useless so far, but thankfully old contacts have come up trumps with a number of interviews.
Work in IT and Cambridge is an hour up the road, so feeling pretty confident for the future.
[quote=psychobiker said]But wont you pay tax on the the 12 weeks for lieu of notice so will be a reduced figure.
yup
You only pay the tax on t pay in lieu of notice if it's in your contact that the company can do that, if they just give you the money to go away it isn't taxed up to a 30k limit.
Apparently not. Tax is payable only on any part of the redundancy package that's over £30k
D'oh! Riddoch beat me to it 🙂
Obviously March salary will be taxed & NI'd as normal
I was right the first time about the statutory redundancy pay being about 8500.
9 of the 14 years are aged over 41 so I get a week and a half for each of those years 🙂
[quote=john_drummer said]Apparently not. Tax is payable only on any part of the redundancy package that's over £30k
Don't think it's that simple with regards to PILON (payment in lieu of notice). It depends upon your employment contract.
http://www.personneltoday.com/hr/legal-qa-when-can-payments-in-lieu-of-notice-be-paid-tax-free/
In our recent redundo package the PILON (3 months) was taxable.
HR person today said there isn't anything in my contract about it so it should be tax free. But on the other hand, last week she thought it was taxable. I need to get an exact answer on that.
At least you can contract and ride more?
Contract yes.
Ride more? That depends on Mrs_d - she's just recovering from 8 months of surgery, chemotherapy and radiotherapy for breast cancer. She doesn't want to have to look after a broken me, not earning, on top of all that, so I'm sort of grounded at the moment
Anyway. PICk/universe/SB+ analyst/developer with 25 years experience available from end March. Leeds/Bradford area. I do know some Cognos BI tools and SQL but they're rather rusty.
And I play drums so I could do that, or a drum tech for a pro rock band.
And I brew beer so I could do that too
Before you restart work, John, come on the touring weekend in D & G, you can keep me and Ton company at the back.
Good luck with the job search. 😉
Cheers chip. D & G?
Just remember that however much you get it will never be enough. Enjoy some time off but start looking for a role straight away as it could take a couple of months.
I started already 🙂
Have an interview next Wednesday 😀
does anyone know if there are rules around a company recruiting either a permanent staff member or contractor to do the work of someone they have made redundant? Also, rules regarding hiring me to do contract work after making me redundant? They're going to have to do something, I'm going to be pissed if they hire someone in, but on the other hand if they can get me in as a zero hours contractor, it could work in my favour, but I'm pretty sure it's illegal. Although part of me doesn't really want to have anything to do with them any more.
As I understand it -IANAL - an employer cannot replace a role that has been made redundant within 6 months of the redundancy date. Note how I say "role" rather than "person"
If you have three analyst/programmers and you make one of the jobs redundant, you cannot employ another analyst/programmer within 6 months. I don't know if you could recruit a systems analyst and/or a programmer within that 6 month period.
Re-hiring you for specific tasks at contract rates is, afaik, permitted. But as I said, I 'm not a lawyer, or an HR lizard
What do you do Jim? I know we work in the same industry and know of some positions available. JK.
As John-Drummer has said the company can not EMPLOY anybody into a ROLE that was subject to redundancy for six months.
HOWEVER they can contract a similar role to an ex employee if that is required by the business. It happened to both someone I worked with and myself in the past. I was made redundant after three years with a very very nice redundancy package from a systems implementation role and within six months was back on site for three months doing a systems accountant role on a lot higher rate.
Good luck for Wednesday.
Just a small piece of advice on job seeking.
Don't be at all surprised if the first 4 weeks you apply, and hear absolutely nothing. It can feel like you're in a hole and there's no way you'll get out.
the next 4 weeks is often stuffed full of interviews and the agencies starting to chase you
Hopefully after that, the offers start to come through.
And remember, there are no interviews you don't attend. You never know what may turn up and they are all good practice.
If I had 4+ weeks notice of a possible redundancy, I'd spend almost all my time at work being paid to job hunt to cut out the start of the cycle when I walked out the door.
Oh, and I've been made redundant twice, and genuinely, the best that could ave happened both times. I guess I need a kick to get going!
we were first advised of this on Tuesday last week, since then I've updated my cV at least twice, and registered with a number of job boards e.g. reed, monster, CW Jobs, etc.
I've actively applied for about 15 jobs and had positive feedback from probably half a dozen of them, but I'm also starting to get calls from agencies that I hadn't previously spoken to. As I mentioned above I already have one interview confirmed but I'm expecting to get a few more before the end of the month
it's all quite exciting actually! 😯
Good time of year to be made redundant - Spring around the corner, lots of bike rides, jumpers for goalposts etc
Dumfries and Galloway . . .
http://singletrackworld.com/forum/topic/touring-weekend-anyone
Actually the rate projects are getting delayed and cancelled I don't think they will need to find someone to fill my role!
juanking I'm a GIS consultant, mostly working in environmental consultancy side as my background is environmental, but as well as that in the last 4 years been doing a lot of non-environmental marine work, so mostly O&G/renewables work supporting flow assurance, pipeline/interconnecter/cable routing, etc etc. At this point in time I'm not sure staying in O&G is a good plan though, at least in the UK.
Dumfries and Galloway . . .
http://singletrackworld.com/forum/topic/touring-weekend-anyone
ah I get you.
sorry, no can do, grounded at the moment for fear of leaving my wife having to look after me when it should be the other way round as she recovers from cancer treatment
On a similar vain, I've just been advised that 1 of my Clients with a turnover of circa £35million has just applied for a CVA. I may as well say bye bye to the money they owe and I expect it isnt going to be be pretty for many other of their suppliers or staff. 🙁
Confirmation today that it is my job that's redundant. I finish on 27th March. One interview already arranged so fingers crossed
Yay! And indeed woohoo!
New job to go to, having a week off for Easter, then start 7th April. PICK contract, £30/hour and a nice big redundancy payout. I feel a new drum kit coming on... 🙂
Great news, John.
Nice fish!
Thread resurrection only a month before it get's locked!
Had a meeting today to be put 'at risk', which considering my department is 4 people in 2 groups, I'm 1 and the other three in the other, and the number of redundancies is likely to be 2 that basically means me +1, otherwise why invite my group (me).
Bollocks, thought I'd weathered the worst of it too!
Anyone need a Process Engineer?
CV
Masters Degree in Chemical Engineering and Chemistry
APMP level D7 years design experience, 2 as Design Safety Engineer,
Refineries
Petrochemicals; particularly UOP packages, BP refrigerated parxylene process, LNG, Ethylene cracking, Polyethylene, ethylene storage and pipelines and solids handling for an Energy from waste plant.
Utilities: Dealt with (some of) the piperacks for the worlds biggest petrochemical plant as well as steam, nitrogen, air and cooling systems.A lot of PMC work as well as FEED and EPC both as a process engineer and in design safety. I've also got site and laboratory experience.