redundancy or not?

So, told last year that we were to be made redundant. Managed to be relocated to a different department to avoid being redundant. As part of this both the company and I have 3 months to decide whether or not i’m suitable for the role. With the economic problems at the moment the orders for our products have all dropped off and the company are talking about ways to further reduce costs, and are looking at further redundancies and possible reduced hours.

Recently found out about a job in a new company, which is less money, but more secure.
I currently take home approx £1700 pcm the new job will be around £1400 pcm with the option of overtime. If I choose to take the redundancy I will get at least £17k. I will cope on £1400 if i have the redundancy to fall back on for those emergency purchases (car breakdown, bike bit broken etc) as this will be enough to live on each month, but won’t leave much spare. I also believe that my earnings will increase in time as the new company start to get payback on the money they’ve laid out to get up and running.

My quandry is that if I stay where I am in a job that isn’t particularly rewarding other than the take home each month and some of the benefits like pension and sick pay, but I could end up on less money (with the reduced hours) and no option of redundancy (my boss won’t let me go unless he really has to) and I could miss out on this oppurtunity with this exciting new company. I also have 3 kids to bear in mind.

I have changed my mind a dozen times so I am just thinking out loud and looking for more opinions. apologies if it doesn’t make much sense.

Take the redundancy – i think all jobs have a certain life expectancy – and 17k is a very generous offer. Use a bit of money to sharpen yourself up for future jobs – training, smart work clothes etc. If your current job isn’t particualrly satisfying and a new job might be, it is worth the gamble.

Don’t disagree with jonjon, but I’d make sure the other job was definitely yours before you took the redundancy.

I’d take the redundo too. In fact I was in a really similar situation last year and did, even with no job to go to.

You’ve got to make your own mind up of course, but there are quite a few people who didn’t take the redundancy when I did who now say they regret it.

If the new job exists I would take the redundancy. One of the problems with a company that has laid off a lot of people is the negative atmosphere that seems to prevail after the event. Also if the company is in the sh*te it will take a while to recover. Better off joining somewhere that’s more upbeat about their prospects.

i have not yet been offered the job, and I wouldn’t be daft enough to jack in this job without a firm offer from them. i just can’t make up my mind. on one hand i’d love to move on and do something new (i’ve been working in this job for over 10 yrs now), but I worry if that is a good enough reason to change to a less well paid job. After all work is just about earning money isn’t it?

My mate did this a few years ago and still hasn’t reached the earnings he had before, and he’s spent all the cash too!

My mate did this a few years ago and still hasn’t reached the earnings he had before, and he’s spent all the cash too!

Well, that’s the other side of the coin to my comment – and why only the OP can decide I suppose.

Got to take your likely career arc into account, are there better prospects in new job? Will you be changing careers and be able to climb the ladder further there than you can in current role?

£17k is a nice lump off the mortgage though. Or even £15k after a nice new bike and holiday.

Check out the other company first i.e. do they have a future or a buffer that will last for the next 5 years in this economy climate? 😯

pretty much all jobs become boring after a while. i would make the decision based on which gives you the best chance of enjoying your life away from working. for example, does one job pay better but have longer hours? although the other pays less, will the redundancy mean you can treat you and your family to a holiday and/or something you’ve always wanted/needed?

Before you decide, check all the paperwork you’ve got re the redundancy & the 3 month trial you are on. Companies I’ve worked for that made redundancies have samll print round alternative roles. If you’re placed in a suitable alternative role instead of redundancy, the trial period is generally for their benefit only. If you haven’t the skills, then you’ll not pass the trial & still get redundancy pay. However,if you don’t like the job and want to leave, but they deem you have the right skills say goodbye to the payout. If you’re in a union, check with a rep, and if you’re boss has only mentioned the trial etc verbally, get something in writing, or have a witness.