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Original poster

To take voluntary redundancy @ £115k

206 replies

anon5mill · 13/08/2023 19:22

Around £80k after tax. Or should I stay in current role with package of £140-150k + pension, healthcare. Current role is comfortable and suits lifestyle. Could be difficult to find another role with the same flexibility and money. Have niggling doubt about taking the redundancy. Have dependents, already own home, no debts. Likely to be made redundant within next 18 months if not now.

OP posts:
mbernue · 13/08/2023 21:38

This reminds me when I got made redundant..... and I got zero money. HR made a point to tell me numerous times "redundancy pay isn't taxed".

Ffs

nonheme · 13/08/2023 21:38

This reply has been withdrawn

This has been withdrawn by MNHQ at the poster's request.

Dotcheck · 13/08/2023 21:39

Jump.

You don’t like the job anymore, the company is going down.
Leave when you’re feeling in control rather than being booted out, surrounded by people who are feeling desperate.

Cluelessfirstimer · 13/08/2023 21:42

I would take it personally but I earn half of what you do and am struggling with a fucking horrific mortgage so slightly different.

Even so, if I didn't I would take it. The tech sector is struggling (partner is in it) and in 18 months (if not before as you say) the offer could be quite different.

Also you could stay and they could make you redundant next week with a much less attractive package. The uncertainty would swing it for me

Cluborange666 · 13/08/2023 21:46

My husband sat through redundancy mass measures in his work about ten years ago. He got kept on in the end. The stress gave me IBS though.

mbernue · 13/08/2023 21:47

BarqsHasBite · 13/08/2023 21:34

Sorry if someone else has mad this point already but: my friend works for the NHS and they are making various people redundant. She was told that if she accepts the (pretty generous) voluntary package, one of the terms is that she can’t take another NHS role for 6 months. Makes no sense to me, but that’s what she’s been told 🤷‍♀️

I thought they didn't make people redundant in the nhs.

Yes she's getting an enhanced pay so it wouldn't be fair that the next day she started to work for them again.

murasaki · 13/08/2023 21:47

Ours was worse the third time, I didn't even think about it the first time, but on time three, if you had over 13 years service, it was a year's salary, but for staff on less than that it suddenly dropped from a year regardless, to a month per year. So it was clear what was going on,.and I jumped, as if they had to run it a fourth time, even on 17 years, I might not get a full year. I reckon I can make it last 14 months on giving myself my normal salary, so hopefully will be OK, and am not averse to temping at a lower level if needed if it comes to that.

susan123graeme · 13/08/2023 21:50

Wow and wow - I left and created a new life on 50k - hey get out there take the money - do something new (if you want ) - live life but really really understand you only have one life and it is short

thenightsky · 13/08/2023 21:55

BarqsHasBite · 13/08/2023 21:34

Sorry if someone else has mad this point already but: my friend works for the NHS and they are making various people redundant. She was told that if she accepts the (pretty generous) voluntary package, one of the terms is that she can’t take another NHS role for 6 months. Makes no sense to me, but that’s what she’s been told 🤷‍♀️

Pretty sure that is illegal.

Darkacademic · 13/08/2023 21:56

You’ll get more money and perks out of the company by carrying on working there for the 18 months than by taking the redundancy package, while still having plenty of time to look around you to get something that you really want. Unless you hate the job, I would stay but have my foot out of the door.

MotherofGorgons · 13/08/2023 21:57

Can we please stop shaming high earning women for talking about their salaries? If you feel disappointed about yourself that's on you really, not OP.

Yellowlegobrick · 13/08/2023 22:02

Stay and earn as much as you can as long as you can.

mbernue · 13/08/2023 22:03

MotherofGorgons · 13/08/2023 21:57

Can we please stop shaming high earning women for talking about their salaries? If you feel disappointed about yourself that's on you really, not OP.

We aren't:

mbernue · 13/08/2023 22:03

Darkacademic · 13/08/2023 21:56

You’ll get more money and perks out of the company by carrying on working there for the 18 months than by taking the redundancy package, while still having plenty of time to look around you to get something that you really want. Unless you hate the job, I would stay but have my foot out of the door.

Assuming she will have a job for 18 months....

mbernue · 13/08/2023 22:04

@thenightsky no it's not. The nhs is giving an enhanced package and part of that is you can't work for the trust again for 6 months.

CyberCritical · 13/08/2023 22:05

@thenightsky it's not illegal, many people have non-compete clauses in their employment contract that say they can't work in the same sector, or for a competitor within x miles within x miles of quitting a job. They can write it into a settlement agreement too, you then have the option to negotiate and try to remove or amend the clause, or you accept, or decline it altogether but then you don't get the enhanced redundancy.

thenightsky · 13/08/2023 22:06

mbernue · 13/08/2023 22:04

@thenightsky no it's not. The nhs is giving an enhanced package and part of that is you can't work for the trust again for 6 months.

I understand that its for a particular Trust, but not the NHS as a whole. Its called, or used to be 'sweet-hearting'.

CantHaveTooMuchChocolate · 13/08/2023 22:07

Throwaway17000 · 13/08/2023 21:20

Tech sector is brutal at the moment, particularly senior. Lots of candidates floating around due to the bulk redundancies that happened over the last 9 months or so, not many companies willing to hire, very limited VC funding limiting growth. If I were you I might want to stay in role while looking hard for other opportunities, and see if it gets easier later. At the same time, if the job is stifling, a nice break might be a good thing, as long as it’s not negative for your long term prospects.

This is one of the first realistic responses I’ve read on this thread. I work in tech too, contracting and it’s an absolute car crash atm. Thousands applying for each role, rates lower than ever (perm is similar). If you’re happy to be looking a while, have good contacts or don’t mind the time off then go for it. But you’ll be doing well to find another role soon, permanent or contract unless you’re in a highly sought after niche (with SC, etc).

smilesup · 13/08/2023 22:07

DontSetYourselfOnFireToKeepOthersWarm · 13/08/2023 19:59

Thank god for the thread police.

Show quote history

Always someone cunt to make you feel worse @DontSetYourselfOnFireToKeepOthersWarm

Totalwasteofpaper · 13/08/2023 22:23

MotherofGorgons · 13/08/2023 21:57

Can we please stop shaming high earning women for talking about their salaries? If you feel disappointed about yourself that's on you really, not OP.

I would call it more whining and complaining rather than shaming.

But i agree it shpuld stop as it's somewhat derailing a very useful / informative thread

murasaki · 13/08/2023 22:27

Mine said no chance at our gaff for two years, but the rest of the sector is available. They pay for a solicitor to go through it with you(up to a certain amount) as that is legally required before you commit, to ensure that you understand.

Mirabai · 13/08/2023 22:27

FudgeSundae · 13/08/2023 21:18

ALWAYS TAKE VOLUNTARY REDUNDANCY. It means you’ve already been marked for redundancy but it’s exponentially more generous than it will be when it’s mandatory. Also, when mandatory all your other colleagues will be jobhunting too. Polish your CV, take the offer and apply for jobs like mad.
(if you need more convincing work out what your statutory/contractual redundancy would be. It’s typically peanuts, 1/1.5 weeks per year of service.)

But if she leaves in a year she will have earned the money anyway but forgoes pension and healthcare benefits.

The old adage that it’s easier to find work when employed is true. I’d stay but start looking seriously straight away.

Mirabai · 13/08/2023 22:30

mbernue · 13/08/2023 22:03

Assuming she will have a job for 18 months....

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If she stays in the job for 12 months and they offer her nothing she breaks even, anything more than that and she’s ahead.

Mirabai · 13/08/2023 22:31

but forgoes

retains

MotherofGorgons · 13/08/2023 22:31

DH was in a similar situation. He decided to stay. As it turned out he wasn't made redundant.

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