Found out end of October the company was moving to a new business model so was put on risk of redundancy and went through consultation
Had 2 meetings and my redundancy was confirmed in writing in November. 3 months' notice so leaving date due to be in Feb but the company asked me to stay for a further 12 weeks to help transition the business to the new model, so leave in May
On top of the statutory redundancy, they confirmed an extra weekly amount as an incentive to stay on for those 12 extra weeks and a lump sum bonus tied to objectives to do with the transition, both to be paid with my final month's pay along with the redundancy payment, so tax free
We now have a new CEO who has said he wants to change the decision to move to the new model and keep the old one, so very likely my redundancy will be stopped and I will be asked to stay
Understand I would not get any redundancy payment in this case, but should I still get the extra payments and the bonus? (I have achieved the objectives, although will now have to work to undo them all!)
I haven't pre-spent any of the money, but have taken it into account when making various decisions and although would be great to stay in this job, I will be financially worse off than leaving and going elsewhere
Also out of 8 people they made redundant, 6 have already left. My role would therefore be slightly different so should I be renegotiating terms based on that?
I have a call tonight with the CEO where I think he will give a final decision, probably followed by a call with HR. (They are in US, I am UK based)
Just want to get my head straight first regarding my options, anything I should ask...
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Redundancy may be cancelled - question on bonuses/renegotiation
12 replies
jackstini · 13/03/2020 10:01
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