DH has been told he’s likely to be made redundant in 3 months

[LongGinShortTonic]

Barely slept.

DH has been told that his role is likely to be made redundant in 3 months time if the business carries on as it is. He’s in a fairly senior role, and quite niche, so getting something else will take time.

What can we do now to start preparing, just in case? Of course, it might not happen, or a great job may come along, but I’d rather be prepared.

He’s quite shocked. However, he does have a tendency to be a bit Eeyore-like, so I’m not sure how far to take this?

Talk to headhunters
Get CV up to date
Check redundancy insurance on mortgage
Get credit cards right down - only got one.
Budget, budget, budget. Problem is, we don’t spend an excessive budget anyway, already shop at Lidl etc.

We’re abroad for Christmas and that’s mostly paid for bar presents and food. I’ve a couple of weekends away next year, flights paid for, accommodation/ parking not yet sorted. Already booked next summers holiday and paid 50%.

I work, PT at the moment, but if he does end up at home then I could go full time and he could do the school runs etc.

Own my car outright, his has another year to go.

Any other bright ideas?

Bugger, I’m going to have to give up smoking aren’t I?

stopping smoking is a good start - both to save money and for your health you already know that

does dh have transferable skills/qualifications. attended management courses, project managing? those could help.

linked in up to date?

Would he get a reasonable redundancy package do you know?

Get him to check what support his work offers. DH has just had to make people redundant and he told me that the company offers CV writing advice and interview practice services. And something else I’ve forgotten... get him to ask HR.

—yes yes I know— you’re right

Yep, he’s up to date with professional accreditations, courses etc. His LinkedIn is pretty good, and he’s active on there.

Although he works in a standard support role, it’s within a specific sector, and that’s where all his experience is for the past 15 years. And that sector is pretty small at his level. He’s tried to go outside it in the past, but has always been knocked back when he gets to the final 2 or 3 as the other candidates have more relevant experience.

But he can cast his net wider for sure, see what happens.

Find out about his redundancy package if it's worth it wait it out if it isnt job hunt now not later

I got made redundant recently, I've basically done all those but to a lesser extend as I only had the months notice so couldn't push down debt much. Also make sure he signs on if he doesn't get a new one by the time it rolls around.
Also obviously he will want and need to get a similar job pay wise, but apply for temp type jobs too, I've got a new PT temp job that I'm not particularly happy about and lower paid but it's just to tide me over until I find a new job probably after Christmas and pays better than jsa and still leaves time to have interviews!

for him, it's tough being made redundant!

Been there 5 years, so not expecting too big a payout.

He does presentations and client interviews all the time, so interview wise he’s not too worried, but will definitely check on the HR support.

Any ideas for what I can do / need to think about? There’s no need to stop the kids extra curricular activities just yet, but I’d like to be prepared.

for you @Treq hope you’re doing ok?

It’s a blow mentally I think, but fortunately it doesn’t have quite the same stigma as it used to. So my DM won’t have quite so much to get her teeth into

I’ve just remembered the mortgage is up for renewal in April. Shit.

Op he's had a warning

Myself and DP were both jobless overnight when our company went into liquidation with little warning. Although Because of this we have had redundancy and will receive a further 3 months pay from the government.

You sound organised in your thought process. CV's up to date look at what allowances you might get. Look at ways of putting some money aside for last few months. He needs to get ahead of the curve.

Good luck

Was devastating and they did it in a ridiculously underhanded way that screwed me but urgh just got to pick yourself back up after crying for a week and throwing darts at the company logo

Squirrel all your tesco type vouchers away, I topped up freezer, I cut things like Spotify, Netflix etc which I miss but got to be done!

See what outplacement support you get. We had a 6months program paid for by the company when I got made redundant. Covered everything including retraining, CV, LinkedIn, interviews and adhoc training.

Apparently 75% of new job roles are filled without being advertised now.

What about switching your credit card balance to a zero percent balance transfer deal, just as a cushion?

We have been through similar. I would work out how much you need to feed your family and keep a roof over your heads each month and look at whether you going full time or cutting back would cover that. And if not what the shortfall is and how you could possibly make it up.

Otherwise your main task is to keep your DH motivated. As you say, it’s a massive blow mentally and so keeping his spirits up is really important in helping him find something new.

Good luck.

Look at your utilities including internet. I've just switched my gas and electricity and will save a lot over the next year. Companies get you in on a deal and slowly raise the price over the next few years.

Look at all the hidden money you might have, Clubcard vouchers, Boots points etc. might not be much but when you need to buy something they can help ease the pain of the cost.

Start cutting back now, food shops, extras that you don’t need, but make sure you still have fun and do stuff.

My dh got incredibly depressed when he left his job which didn’t help but we survived a year with him unemployed.

We just hunkered down for a year.

If I were you I’d request full time working now. So you have it sorted by the time you return after Christmas. Def give up smoking. How quickly he gets a new job depends on the sector. My DH has a niche engineering job - after his redundancy he managed to get another role really quickly because barely anyone has experience in that industry.

Get switching mortgages to a fixed rate just now/as soon as your allowed. You can usually do it 4 months in advance I think.

Interest rates are lowest since 2017 atm (email from mse this morning) and sorting it now while you both have a decent income and he isn't on formal notice will help in the long run. Also let's you budget for the time to come too.

We have been here a couple of times . And also in a niche business. I would suggest that he contacts some of his similar companies , etc. directly to tell them that he will be available.
I thought at first that if would be a bit desperate sounding but as you say redundancy is just a fact of life now. And he was well received and eventually got a job.

I know it is a worry but you seem to be in a good place financially with not too many big outgoings. And you say you have the option of going full time . Look up now as to what benefits, etc. you are entitled to and apply as soon as possible.

I would suggest setting a time line too . I.E. if he doesn't get a job by X time , consider maybe going interest only or canceling the trips ., or taking a different sector job.

I know that you must be worried, but unfortunately it is a modern way on business now. Look after each , I know I needed to tell my DH that I absolutely supported him and that this was not something that he did wrong or caused. ( I want to leave him now , but that is another story !! )

I hope that it is not too long before it can be solved for you and your family..

Can you do the mortgage renewal before the deadline - ours is due February but we can sign the new contract already...

If he does get made redundant consider consultant/ agency/ interim work even if just to tide him over till he finds something permanent.

Depends on the sector but most industries are keen to employ people to deliver projects, cover maternity absence etc and often find it hard to find quality staff because most people prefer a permanent role.

My husband has been told he will be made redundant on the 1st March and paid till the end of May and then a redundancy package on the 1st June so we are also starting to look at all the options. He is planning on trying to get some consultancy work after that. I work full time though so we can pay day to day costs with my wage if we cut back a bit.

Great tip on checking out the mortgage deal now and seeing if we can sign early. Wondering if we could consolidate the credit card into that? Probably the cheapest way to do it?

I can go full time no problem, but then I'll have to pay for childcare so it evens out. I can scale up or down as needed, but it's attached to a consultancy so can be a bit up and down depending on workload. If the projects are there I can do it.

for everyone else in this situation. As you've said, at least we've got some warning. And he's well connected in the sector, so will start putting out feelers. The thing is that he doesn't want to start any rumours or create any difficulties for his current company, so will need to be discreet.

He's looked at agency work, unfortunately he's too senior for most posts which are advertised. I suspect something will come in from one of his current contacts - that's how he got his last 2 jobs, and how I got my last 2 too.

Will also check out utility companies.

We're having a strategy meeting at the weekend

I'm pretty good at being a cheerleader, but then other times I just want to slap him in the face with a wet fish and shout CHEER UP, because it's pretty darn depressing going over and over it when it hasn't happened yet, we don't know what the deal would be, and frankly he could burn a lot of emotional energy worrying about this over the next couple of months when it might not come to pass.

Says the woman who has been worrying since 4am.

Update LinkedIn profile and really start effectively networking, contacting former colleagues, suppliers who may know people recruiting, ensure all skills are up to date - IT and industry specific wise.

And then look at any way to save for now.

It happened to both us of this time 6 years ago within a few months of each other with a newborn. I managed to get a new role quickly luckily, but I really networked as soon as I knew and that definitely helped. Good luck.

My sil wasn’t quite made redundant but was sort of being edged out by a company who had really invested him..was weird
Anyway , once people knew he was up for grabs, he had loads of offers on the table.
He’s with an an excellent company now and very happy
Hopefully the same will happen to your dh

What happens when you reach the ripe old age of 58 and companies think you are on the scrap heap is an entirely different matter as happened to my husband when the small Computer firm he was part director with was going u def.
Fortunately he was able to retire but I dread to think what would’ve happened otherwise

He had several interviews, got down to the last two or three Candida...and then the Dear John letter.