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.. to ask what did anyone do after they were made redundant?

(28 Posts)
gentlydoesit89 Sun 29-Jan-17 19:24:26

Got handed the dreaded redundancy notice last week, been in a daze and now want to get things sorted and stop drifting along feeling sorry for myself.
12 years service so a fairly decent payout, but this company is all I've ever known.

What did anyone do next when it happened to them? Find a job in the same field? Go a completely different direction? Take time out? There's too many decisions to make!! Any practical advice would also be great as my head is fried!

FWIW I'm a single mum and could comfortably live on the money until the end of the Jan next year...

OhWotIsItThisTime Sun 29-Jan-17 19:32:19

It's happened to me three times. Each time, I've come out of it with a better role.

Take stock, do your cv, think about what you want to do. You'll be ok.

MarmaladeWithToast Sun 29-Jan-17 19:36:45

A load of people were made redundant where I work (NHS) recently. Most kept the money as back up and went straight to the locum agencies. Some of those are working permanent jobs now as the hospitals they were placed in then took them on. One decided to take several months off, but is now having problems getting back into work.

I would keep working if I were you if you can - employers don't like big gaps. I don't know what you do, but can you get temporary/contract work for a bit until you can think what direction you want to go in next? For the record, if I was made redundant I'd take the money and set up my own business (I think I see a gap in the market).

Ilovecaindingle Sun 29-Jan-17 19:38:36

My dh was made redundant the week we had our ds premature!! He decided to become a sahd and I went back to work. .

Millipedewithherfeetup Sun 29-Jan-17 19:46:17

I had about 6 months pay, so decided to take the summer off, had a lovely time with my dd, got her sorted back to school in september and then started looking for another job, was so boring being at home on my own i was clock watching til the end of school day, took around another month to find gainful employment it was in a similar field but part time.

Ruhrpott Sun 29-Jan-17 19:48:11

I got another job pretty quickly in the same field and banked the money

Secretsweets Sun 29-Jan-17 19:52:10

My DH and I have both been made redundant in the last 6 months !! I got a new job within a month, and he walked straight into another job - both of us doing the same thing but actually both got better paid jobs, and more enjoyable too ! Only hung we lost was his company car, but he got a very nice payout after 17 years service so bought himself a car and banked rest.

Sometimes these things can be a blessing in disguise, I enjoyed my month off but was bored shitless by the end of the month !

ChocolateButton15 Sun 29-Jan-17 19:52:25

Bought a new car and went round every agency with a c.v, ended up in a different type of job and still here a few years later

Secretsweets Sun 29-Jan-17 19:52:35

*thing

Stoneagemum Sun 29-Jan-17 19:53:25

Used some of the money to get the pieces of paper (qualifications) to prove I'd could do what I had been doing plus an extra to give me an extra edge to get another job. (Was still out of work for 2 years mind, as this was after the 2008 'crash' but at least I was busy for the first 12 months)

OdinsLoveChild Sun 29-Jan-17 19:58:39

I decided to retrain. I went back to university and took a job in my new field. Unfortunately I was made redundant another 2 times after that so decided to be a sahm for a while.

gamerwidow Sun 29-Jan-17 20:01:26

I took an extended maternity leave (15 months) using the payout then did a sideways step into a similar field. Best thing that every happened to me I hated my old job.

SheldonCRules Sun 29-Jan-17 20:05:26

Saved the money, I was planning a move anyway unbeknown to them so it was perfect timing. Had it of been different I would have gone straight to temping until i found something permanent.

wonkylegs Sun 29-Jan-17 20:44:02

I was in a similar situation company I'd worked with since qualifying, they were like family.
There were redundancies before me but as a senior professional I was there until we completely folded so one day I had a job, the next I didn't. I only got redundancy through the insolvency service so didn't have much to take with me.
First thing I did was grieve for my job, sounds daft but it was such a big part of my life and I needed to acknowledge that before I could move on.
I took on some freelance work, spent some time with our son. We knew that we would be looking to move in the near future due to my husbands job so I sorted out the house for sale (we sold very quickly and had a bidding war making a good profit so obviously did something right) and did all the searching for a new house.
Whilst this was going on I was headhunted for a few jobs (I have a rare specialism), I interviewed for a couple but decided on balance that none of them would be good for our family balance so I started my own practice and now a few years down the line I'm doing ok. Its very different but it's just about working, I miss the people but I still get some interesting stuff and make just enough to keep me going whilst also being able to spend some time with our now sons (we decided to have another if I was going to be working less)

CointreauVersial Sun 29-Jan-17 20:49:23

I had a long notice period for my redundancy (company moving to Germany), in fact they paid me a bonus to stay to the bitter end.

So I easily had another job lined up by the time I finished. I didn't even have a day off between the two. It was in the same field.

I did get a very generous payout but wasn't at the stage in life when I wanted/needed to take time out.

gentlydoesit89 Sun 29-Jan-17 20:56:39

I've got a long notice period (6 months) so can definitely be sensible with my salaries between now and then.. it's just working out what to do for the best.
Nobody I've spoken to has seen it as a bad thing though, as a PP said it often is a blessing, which I'm hoping here too!

DrDreReturns Sun 29-Jan-17 21:01:13

Happened to me five years ago. I too had been at the company for twelve years. I got another job straight away in the same industry (software) - I was surprised how easy it was to find work. Due to the start and leaving dates overlapping for three days I was paid by both companies!
Due to the redundancy package we could have survived for a couple of years without me working.

DrDreReturns Sun 29-Jan-17 21:02:30

It was definitely a blessing for me, my family is now much more financially secure which wouldn't have been the case if I hadn't been made redundant.

edwinbear Sun 29-Jan-17 21:03:03

I was made redundant in Sept from investment banking. I'd been there 19 years so also had a very good payout but it obviously won't last forever. I've spent all day, every day since, looking for work and applied for over 150 jobs but still not found anything - although clearly there are big problems in banks at the moment so not that surprising. However, if you intend finding another job it might be best to start looking sooner rather than later.

MakingMerry Sun 29-Jan-17 21:12:05

I used the money to fund a Master's and changed field, something i wanted to do for a while and the money was a great cushion to allow me to do that. Never regretted it.

Lots of us were made redundant, over a thousand, and I don't know anyone who didn't end up with something as good or better. It does seem though, that the people who used the payout to fund training/set up a company/ do significantly different generally seem happier than those who took the money and bought a new car or kitchen with it, and stayed in the field doing the same job at a different company. Not that there's anything wrong with doing that, but a couple have said that six years on, with the shine wearing off the kitchen and life staying much the same, that they wished they'd taken the opportunity to do something life changing, when they'd had it.

If they provide you the opportunity to talk to careers advisors, I recommend taking them up on it.

Brown76 Sun 29-Jan-17 21:22:04

Started working temp and freelance immediately after putting the word out that I was available. Got used to the freedom and haven't had a job since. The money also allowed me to have a big cushion to supplement my lower income for a few years. I regret not taking a few weeks off on holiday though as the redundancy was stressful and I did grieve for my former role.

DrDreReturns Sun 29-Jan-17 21:22:32

If they provide you the opportunity to talk to careers advisors, I recommend taking them up on it.

My old company were very good like that - they provided careers and financial advice for people being made redundant. Because I hadn't looked for a job for over a decade I found the careers advice (writing a CV etc) very helpful.

GnomeDePlume Sun 29-Jan-17 21:32:45

Took the summer off and worked on my allotment. Tried contracting for a while then went into a permanent role. We spent the last of my redundancy payout extending the house last year.

Take any outplacement courses which are on offer. This will help with CV writing and also with looking at different opportunities. It's also helpful to meet other people in the same boat.

whereiscaroline Sun 29-Jan-17 21:37:00

I think it depends whether the money or the time would be most important/beneficial to you.

My first redundancy, I got a new job straight away in a new field (was fairly junior at that point so hadn't spent years climbing the ladder), and used the money to furnish my first home and pay off a credit card. The money was more beneficial to me then than a "break".

Most recent redundancy, I planned to take three months off to be around for my son more, and lived off the redundancy pay. I started eBay-ing to keep busy. After 3
months I went back to work, realised I hated the corporate world that I'd been part of for 8 years and quit. I now eBay full time. That time off made me re-evaluate what was important to me and I'm so thankful I didn't bank the money and go straight back to another job.

ChippyDucks Sun 29-Jan-17 21:39:46

I was youngish and childless at the time, so took the cash and booked a flight to Australia to go travelling for a couple of years. I appreciate this isn't possible with a child, though.
Best thing that ever happened to me though.

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