Viewing 23 posts - 1 through 23 (of 23 total)
  • Redundancy..
  • breadcrumb
    Full Member

    I’ve been placed in the redundancy pool at work which isn’t ideal but given the current climate it isn’t a total shock.

    Any advice and positive stories are welcome.

    Currently reworking and tweaking my CV. I’ve been there 13½ years so at least I’ll have a bit of notice when it becomes official. Had anyone ever negotiated out of redundancy?

    TIA

    daveylad
    Free Member

    They already know who is going, the pool is to keep on the right side of the law. Been in a few pools over the years, been told each time its not me. The day I dont get told this then I know my time is up!

    breadcrumb
    Full Member

    So just being in the pool doesn’t mean you are out?

    My position is no longer needed, I was going to ask what happens if I step down.. any pitfalls to watch out for?

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    BigJohn
    Full Member

    The biggest pitfall is the company might run out of money before you get your full entitlement and then you’re down to the statutory payout only.
    Bird in the hand and all that.

    yourguitarhero
    Free Member

    I got laid off too.
    I have decided to just take the summer off – getting another job just now has all kinds of issues.
    Used my pay-off money to buy a cheap campervan and am going to cruise around going riding and walking (once we can). Been laid off quite a few times before, it’s a good time to relax a little and clear your head and see what you want to do next as opposed to what you think you need to do next

    breadcrumb
    Full Member

    It’ll just be the statutory amount, but dropping would mean dropping pay too. Which I guess could affect a payout in the future, and it’s not exactly looking rosey in motorsport.

    footflaps
    Full Member

    The biggest pitfall is the company might run out of money before you get your full entitlement and then you’re down to the statutory payout only.

    After 13.5 years there, the statutory payment will be quite decent.

    So just being in the pool doesn’t mean you are out?

    Correct, quite often they’ve not fully refined the plans and not everyone in the pool goes.

    onewheelgood
    Full Member

    Had anyone ever negotiated out of redundancy?

    I’ve been on both sides of this, employee at risk, and manager making redundancies. It’s very rare for someone to find an alternative role during the consultation period, but not totally unheard of. I managed it, with about 2 hours left of consultation, and a couple of people I managed were also successful. So it’s worth a try, but I wouldn’t hang your hopes on it.

    thisisnotaspoon
    Free Member

    Just been forewarned that I should expect a formal meeting to discuss my contract imminently. Been there less than a year so nadda payout for me.

    After 13.5 years there, the statutory payment will be quite decent.

    Depend’s, it’s capped so “decent” can depend on what you earn and your outgoings. My payout after 8 years was a little over a months salary, not great as it took about 6 months to find a new job at barely minimum wage!

    Some companies have their own internal figures for calculating payouts but they’re not guaranteed, legally they can’t make it part of your contract T&C’s otherwise it’s taxable.

    MoreCashThanDash
    Full Member

    I’ve been made redundant twice. Fresh start both times, neither were a disaster.

    First time gave us the chance to relocate so we could afford to start a family on one income, the second saw me find a better job on more money.

    However, I’d be more worried about it now, in the current climate, and being over 50 having been in the same narrow field of work for 15 years so not much by way of useful transferable skills.

    oikeith
    Full Member

    My company had a reorganisation and my entire team got culled, we got placed in redeployment instead of offered terms to go ASAP. They claim redeployment means you have skills they need and want to retain but you’ll need to apply for jobs that just get advertised within the company, some as part of the reorg some as part of BAU.

    I did several months in redeployment before securing a role with the company as at the time my preference was to stay as opposed to go.

    footflaps
    Full Member

    Depend’s, it’s capped so “decent” can depend on what you earn and your outgoings

    I though it was pretty good considering how low JSA is.

    If the company goes bust, then 13.5 years is potentially up to 13 x £525 (if you earned over £525/week) and 1.5x that for each year over age 42.

    Then, 13 weeks later you get to claim again for each week unemployed as part of statutory notice period (if you’re still unemployed) at up to £525 a week.

    thisisnotaspoon
    Free Member

    Then, 13 weeks later you get to claim again for each week unemployed as part of statutory notice period (if you’re still unemployed) at up to £525 a week.

    If they went bust, otherwise you’re just working your notice as normal.

    I though it was pretty good considering how low JSA is.

    Like saying “would you like a kick in the balls or a single haribo”.

    rydster
    Free Member

    Well, I got laid off in 2016 from the oil industry which never fully recovered anyway and I was kind of sick of the lifestyle.

    I wouldn’t say it was a good thing for me and it wasn’t a bad thing either.

    I haven’t fully righted by ship yet and got a new career, although hopefully, I can find a PhD later this year to do. If I can do that I’ll feel like I’m back in a good place doing something positive.

    I was fortunate that I was financially in good shape by 2016 and didn’t have kids or a massive mortgage. In terms of identity and feeling of self-worth – which a lot of people source from their job – that wasn’t a problem for me because after 14 years in the oilfield I had moved past that naivety and was just seeing it as a means to an end.

    Flaperon
    Full Member

    You’ve got my sympathy. 🙁

    In the same situation here. Have no idea how it’s going to play out. The union wants one thing, the company another, and on top of that various sub-groups are fighting their own corner.

    I know that I have no control over the whole thing, which if anything is winding me up more than being placed on the list in the first place.

    stumpyjon
    Full Member

    Only advice I can offer is take control, that means start looking now, do your CV, maybe consider taking voluntary if it’s offered. Either way the not knowing can be worse than it actually happening. It’ll be tough but only you will get another job (and odds on you will). Your own worst enemy is you, I got to the point where I didn’t want to apply for jobs because it felt like failure when you don’t even get a response, yet alone an interview. Had to have a word with myself at that point as no applications = guaranteed no job.

    People are still hiring and there will still be a dearth of good candidates.

    bruceandhisbonus
    Free Member

    Likely that I’m about to be made redundant after almost 14 years with the same company in the oil industry. I’m on the ‘at risk’ list and being scored against others depending on job title & product line but pretty sure they have decided who is going already. They had to come up with the numbers of people going so I’d imagine each manager would have an idea who he will lose before the group consultation began. I’m in an unlucky position in that I moved into a group with technology totally new to me a year ago and I’m being scored against others in that group with 8+ years experience of it so I’m not yet up to their expertise. They keep on saying that they will try to redeploy people but that’s just nonsense really as they need to reduce headcount.

    No idea what the future will hold to me and it is a source of daily worry. Hopefully I can enjoy the time off living frugally with my redundancy payout and at some point find something new to go into…preferably a different industry. Job market will be pretty low for a long time though and hundreds of others will be in the same boat. Good luck to everyone facing this at the moment.

    alanl
    Free Member

    Get your CV listed on CV Library.
    I get emails every day for jobs around me.
    There was only one job this morning, but for the last 4 weeks it is averaging 4 a day.

    As for negotiating your way out of redundancy, I tried the opposite, 2 redundancies in the area, I wasnt asked if I’d like to leave. I did want to leave. The Boss was a complete arse, in the end, I gave my notice in, and got nothing for the 10 years I was there.
    I made the right choice though, it was sending me crackers working for a complete numptie.

    poolman
    Free Member

    Good luck all jobhunters it must be a terrible time. I was in oil and gas years ago its been through so many culls, when I was there the people who they most needed were the ones who left. I suppose it’s the market, those with the Best skills got another job pretty quickly.

    As said take control, some sectors aren’t going anywhere soon but some are doing better.

    footflaps
    Full Member

    Good luck all jobhunters it must be a terrible time.

    Yep, but the economy will start bouncing back soon, so it will be a few rough months then hopefully employment will start rising again.

    rydster
    Free Member

    Oil is a shitty business, it never recovered from the last slump that started in 2014. I’ve no idea why anyone would want to stay in it.

    thisisnotaspoon
    Free Member

    Yep, but the economy will start bouncing back soon, so it will be a few rough months then hopefully employment will start rising again.

    Trouble is, bounce back to what?

    It wasn’t exactly powering along before this, employment was up, but a lot of it was in part time, low skilled or “the gig economy”. Productivity and wages had been stagnant for almost a decade.

    I get that it’s not going to be at -30% or wherever we are now for very long, but after the initial jump back up again I suspect we’ll be below where we were even last year for a good few years now.

    If you’re Minister in charge of the DWP it doesn’t particularly matter to you if employment is 96% or 97%, equally if you’re the 96.5% person it doesn’t matter if it’s 69% or 0%.

    Oil is a shitty business, it never recovered from the last slump that started in 2014. I’ve no idea why anyone would want to stay in it.

    Because at some point it pays well

    breadcrumb
    Full Member

    Thanks for the replies, something’s to look through.

    I’m currently furloughed, if I am based redundant and remain furloughed am I due 100% of my wage?

Viewing 23 posts - 1 through 23 (of 23 total)

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