Redundancy

[Vetyveriohohoh]

I have a 3 month notice period, if I was made redundant would they need to pay me 3 months plus stat redundancy pay?

Also does anyone know if I have stock options maturing in 2 years that I was awarded last year would they need to honour those?

Thanks

Yes. You’d only get stat redundancy pay if you were there over two years though.

I’ve been there 6 years so would get stat plus notice as a minimum?

Thank you!

Yes you'd get notice and redundancy pay. Not sure re stock options - will likely depend on what your contract says.

But of course you may have to work your notice.

Stock options are normally separate. If you took them out you should be able to keep them. But this depends on the agreement at the time.

Nb. they could give you notice and then require you to work throughout. Then pay you redundancy when you leave.

That’s a pretty grim option, hadn’t thought they might expect me to work.

Stocks were given as a bonus but vest over a 3 year period, it’s a retention thing I guess so not something I bought in to

We've just been through a redundancy round and everyone got pay in lieu of notice and not required to work plus accrued holiday pay and holiday accruing for the notice period. They can ask you to work it though.