Considering a new job in time of recession?

[NearToCompletion]

Can't decide if I'm crazy to consider this so would like some perspective please.

Been in my job a long time (10 years+) and it's fine, I find the actual work interesting and hold a position of respect within the company. But they are going through a huge restructure at the moment, lots of roles gone (not mine) including many close friends, people I've worked with years and important links from a hierarchy perspective too. I don't really have any progression opportunity in this company, I've been there so long that I have started to get quite bored and the politics have driven me mad for a long time but I'm very lucky to have a job at all.

I've recently been offered another role. Slightly higher salary. At a company doing a very similar sort of thing, not necessarily better progression or a step up (in fact, I wouldn't have people to manage anymore which I do currently). But it would be a change. They seem nice and the company seems very secure, staff seem to stay a long time and there haven't yet been any redundancies.

AIBU to consider it at the moment with the climate as it is? Stick or twist?

Twist! Why would you stick? There isn’t progression where you are. You don’t need to stay in the new job forever.

Last in, first out

2 years no rights

If it was a dream job or massive pay rise etc id certainly think about, but a sideways move because youre bored, id be more reluctant

Argh @BogDiscuits and @araiwa ...the first two responses and you've perfectly summed up my rock and hard place. I agree with both of you! And can't decide which is the "better" logic 🤣 Maybe some more responses will help me see what a majority think....

Totally agree with @araiwa. In this current climate where redundancies are rife (and in your company and field) you would be nuts to side step and start over from scratch forgoing 10 years service... IMO

I've just looked online however and even my years of service is only worth about 6k statutiey redundancy pay...my employer doesn't have a top up scheme, as far as I know. That wouldn't get me very far so I don't know how much all those years of service is even really worth...

Well, if you're happy and financially able to take the risk and walk away from a potential 6k payout to absolutely nothing for two years... go for it!

We definitely couldn't manage 2 years without pay, no! It would be a gamble that the new job would turn out to be secure too. But even though my job is currently safe where I am, the fact they are making so many redundancies shows I'm not 100% safe even in my current job so the point I was making is just that, even there, the payout wouldn't cover me for more than a few months...

Ok some other aspects to maybe consider then.
Sometimes it’s helpful to literally sketch out on a piece of paper a little table of how much good stuff the new alternative offers vs how much you might lose by not taking up the new offer vs the advantages of staying put vs disadvantages of staying put. Financial, social, career development, commute, Work life balance, family friendliness, pension etc- whatever is important to you.

Can you work out which company of the two is likely to continue with shedding jobs or is the more vulnerable? Does one appears to be expanding or offering higher paid work?
Does one have more prestige or reputation- that can matter because your CV is what will keep you getting shortlisted above the other potential candidates for any given role.

How much of a likely prospect would getting a third job be, If employer 2 doesn’t work out? would a third job employer value your loyalty to employer 1 (who they may know is shedding staff) or would they more likely rate your enhanced CV featuring a recent move and higher pay at employer 2? Will the lack of a team at employer 2 rate badly for you at a potential employer 3, if running a team is something you want to do in future?

And thinking longer term- Do you want a career as a people manager leading teams (In which case your current job offers that but I don’t think employer 2 does?) or do you prefer working more directly producing yourself whatever your product is/‘being the expert‘ individually yourself? (In which case sounds like the employer 2 offers that?)
What are the long term career progression and pay prospects of taking either of those approaches?

Good luck whatever you decide!

If you can take out employment insurance (although most companies pulled their products from the market) - it pays out for 12 months in the event of redundancy - I've had a policy for 10 years and at least it gives comfort if I do decide to change jobs

@NearToCompletion

We definitely couldn't manage 2 years without pay, no! It would be a gamble that the new job would turn out to be secure too. But even though my job is currently safe where I am, the fact they are making so many redundancies shows I'm not 100% safe even in my current job so the point I was making is just that, even there, the payout wouldn't cover me for more than a few months...

Sorry, I meant should you be made redundant in the new job within two years, you wouldn't get a pay out. You said it was the same field so if your current company are making redundancies then just trying to highlight that the new company might also be making redundancies soon so just something to consider.