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?

Candidates...bugger

Easier said than done, but we've talked about this scenario. Obviously get his name out to any potential employers, be prepared to be flexible. Work out ways of cutting back, food, fuel, general spending. Probably not what you'd want to hear, but DH has always said he'd work behind bar/collect glasses (not wanting to knock this job for anyone that does it) if it meant more than being on benefits. I have a second job which I hate, but I could do more hours. If your DH can't work for a while or less hours, can you do more?

I know you're worried, but it's good your looking for advice.

Not much more to add, but network, network, network. Be shameless about exploring contacts. He should ask his bosses for referrals, anything that will flag up his availability. You say his work is niche, could he do it independently as a consultant?

If he has not done so already, I'd make sure his LinkedIn profile is up to date and he starts reaching out to more people in his field for connections.

He could go agency side, but I’m on that side so it’s safer to have one of us in corporate- the agency world can be fickle. He’s also much more of a corporate beast than I am, so not sure he’d be happy with crossing over. He could consult, but there’s lots of general freelancers who do that and who are struggling. Personality wise he’s much more suited to being in a busy office and having a team rather than working alone.

A few more thoughts have occurred to me overnight, such as cancelling our National Trust membership before it automatically renews, and taking a break from another membership as both of them we’ve been questioning whether to have a year off.

Definitely see if you can get a new mortgage deal now. We needed to remortgage after DH went self employed - made redundant in his last role and took the plunge after years of wanting to. We were very used to people throwing offers of credit at us so it was a shock to find our mortgage options were quite limited.

join LinkedIn if he hasn't already done so

was going to say remortgage now - maybe to a fixed rate so you kniw where you stand

yes to cancel all renewal things like NT , Spotify etc.
Check phone contracts
kids activities- are there any they are not so keen on? you could maybe trim and then see if increase later...or keep the cheap ones (scouts etc)

If he has formal redundancy paperwork - then he should be very loud abut looking for new work - sod existing company.... he is on notice they dont want him - whilst I know often networks are small he needs to get a wiggle on ....

scale back xmas- your going away - that can be you/dh ..... smaller travelable presents for DC

what helped us was mapping a timetable/calender physically for the year to come (you may already have this we had in heads)
so dates insurances like car/house are due ...
I felt better once had a plan......

Apply, apply, apply. Even if he wasn't made redundant, it doesn't sound like the company is in a stable position so itt might be worth finding something new. Does he have colleagues in other companies who he could also contact, sometimes they know of jobs available and can put in a good word. It's really rubbish, but at least you have warning. At this point I'd concentrate on getting a new job secured, even if it isn't the ideal one. Adjusting the mortgage etc is something you can look into and be ready to do if needs be. Also, remember that the company have to give him time off for interviews if he does get made redundant, they can't make you take it out of holiday.

I've just spoken to the mortgage company. We're a bit later than I thought - July. So earliest is end of February in terms of being able to negotiate. I'm really hoping we don't end up with the same shock as you @SnowsInWater, hope all ok with you now.

Good point on phone contracts. DCs activities are pretty pared down anyway, they do 2 a week plus swimming. One is paid for til Easter already, the other is termly. I wonder if we could pay ahead.

Yes, either he or I would absolutely work in a bar / do a cleaning job / make deliveries if we had to @ifonly4 - the only issue being we live rurally, so options might be limited. One to add to the list.

He's speaking to 2 headhunters tomorrow.

And I haven't had a fag since 8am this morning. My last one of the packet. Not buying any more.

I wouldn't put credit card debt on to a mortgage and pay interest for a lot longer on it, OP - can you find a zero per cent deal to transfer it to instead?

the only issue being we live rurally, so options might be limited. lots of random (but not the most stable) temp type jobs available online check out appen or lionbridge or have a peek at this thread
www.mumsnet.com/Talk/legal_money_matters/3745658-Earn-10-A-Day-November-Part-2-ITS-THE-FINAL-COUNTDOWN

Could help top up the funds a bit

Good luck. Have been there a few times and it’s mostly a case of a steering hand to something bigger and better. Hoping it’s the same for you.

Are there any local organisations that provide advice and mentorship?

It's good that he's been given a heads up. As someone who worked through a restructuring where people were made redundant the uncertainty beforehand was awful. And some people didn't see it coming (even though it was quite obvious to me) and were understandably appalled when it happened. (I fortunately wasn't made redundant but moved sideways instead). So don't be surprised if he struggles to get his head around it to start with or struggles with the uncertainty of not knowing exactly if it is going to happen or not.

I There is guidance online Gov.uk about redundancy and what should happen and what your rights are (or are not). As he's only been there 5 years it may well be better to get a new job than to wait for any payouts.

I think he'd definitely rather be proactive and get a job first than wait and see what happens - not least as if he goes first, it might save someone else's role. Fortunately we have several friends in HR who are well placed to advise us on procedure, but you're right about the uncertainty Cedar.

I'm not sure who would do that at his level @mathsquestions, but there must be someone. The company is very family friendly and has a good culture, and I know the CEO, so struggle to believe he'd not at least try to do the right thing.

Thanks for the job board @Treq - will have a look.

Even if not more senior, someone who’s opinion he respects and values is very useful to discuss things and as a sounding board.

If he has not done so already, I'd make sure his LinkedIn profile is up to date and he starts reaching out to more people in his field for connections.

Very basic tip, but make sure he toggles off the option to promote his changes. Otherwise every thing he does will get broadcast out to his network - and you said he sin't wanting to cause ripples just yet.
(Obviously he can toggle it back on when the time comes to go public)

Ask some quiet questions about taking a voluntary redundancy/pay off if he manages to pick something else up sooner too.

It could streamline things for him and prevent the axe falling on someone else when he is already on the way out anyway.

All good points, thank you.

Really appreciate the support. DH says thank you too!

See if he czn negotiate outplacement consultant services. DH used one years ago and their CV techniques were brilliant; I used them and opened my CV with a page of achievements which got me a job at senior consultant level.
The one he used was Chusid Lander.

can