Pay cut vs redundancy due to CV

[Delilah901]

Hi, I’m currently furloughed. I’ve now been asked to accept a large pay cut. I was thinking of leaving anyway and I’m wondering if I can refuse the pay cut and ask for voluntary redundancy? Will this get me my redundancy lump sum? My worry is by asking for redundancy my work could take this as me leaving/ giving notice and not redundancy then I’ll not get a lump sum (20 years plus service).
They haven’t given individual ultimatums but have said in general, that if people don’t accept the pay cut, then redundancies will occur.
I don’t want to shoot myself in the foot! Any advice? Thanks.

If you ask for voluntary redundancy then do not do it in writing....you might find you are made redundant with legal minimums

From the companies perspective they will do it based on overall anticipated cost.

So your redundancy of 20 years, capped at statutory max and assuming your age as under 41 as I don't know otherwise would be

£10760 as a lump sum tax free plus any notice

www.gov.uk/redundancy-your-rights/redundancy-pay

Is the reduced pay period for a set time like 3 months? Would they pay you more or less than £10760 total during that period?

They are looking to reduce costs so will be trying to find a way to release the smallest amount of cash possible during this time.