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Original poster

Could lose job! What to do?

16 replies

lifeisunpredictable · 28/12/2024 11:26

After several years of a successful career i
find myself potentially in the position of losing my job in the new year (new boss, different expectations but clearly my face doesn’t fit). I am trying to get a new job but it’s a hard job market at the moment. Also I’ve been worrying about Money. I have a house which has another 8 years left on it (payments have become extortionate due to withdrawing from the flex mortgage to cope with the never ending cost pressures we all face) without extending the term. We also have debt.

what do I do if I lose my job from a financial perspective? This happened to anyone? I am also concerned on how I explain being let go to prospective new employers at my age? I am quite senior so going for something junior could look suspicious to a prospective employer though my expertise is sought after at junior levels.

OP posts:
MikeRafone · 28/12/2024 11:47

What do you want to do? Work in same industry

AgreeableDragon · 28/12/2024 11:51

If you've been been there more than 2 years they can't just let you go.

Check your legal rights with Acas, or if you have legal expenses on your insurance ring the helpline.

Bromptotoo · 28/12/2024 12:22

If you've been there for more than two years getting rid, unless they can pin something on you as gross misconduct, isn't something they can do.

If you mutually accept it's not working might you be able to negotiate a settlement agreement?

As others say start with ACAS or your union if in one.

Original poster
lifeisunpredictable · 28/12/2024 12:25

I Want to work in the same industry but in a slightly different area. They are following capability procedure (reasons for their performance concerns are woolly and not specific so am struggling to
understand the how to improve). Restructuring however Q1 so think they’re using this to manage me out so don’t have to pay redundancy. Think they want a younger workforce as staff being developed are much younger. Also being kept out of the loop on changes!

OP posts:
Jmaho · 28/12/2024 14:17

I'd look at extending your mortgage term ASAP while you are still working

MikeRafone · 28/12/2024 14:23

are you a union member? it might be useful for support and negotiation

Cerialkiller · 28/12/2024 14:26

Indeed, why not remortgage now at an extended time frame. You can always overpay if you have the money later.

If you think they are gunning for you could it be worth negotiating a payout now instead of them having to spend months paying you while they try to oust you?

Alternatively if their reasoning is woolly then that suggests that the goals they have set you could be unmeasurable and therefore unachievable.

Ultimately you need to decide if you want to try to stay or get out. If the latter you need to maximise the benefit to you. Get a good reference and a payout.

As pp says, contact acas and talk to them about if your work are following correct process and if/at what point you could make a grievance or complain of constructive dismissal. That could then be leverage for a settlement to leave quietly which might be your best option.

90yomakeuproom · 28/12/2024 14:26

Are you a teacher?

Startingagainandagain · 28/12/2024 14:29

It sounds like they want you out so the best outcome for you would be a financial settlement and agreed reference.

Speak to ACAS and citizen Advice so they can help you navigate this.

Continue applying for other jobs. Also look at temporary work/agencies.

Can you take a mortgage holiday while you job hunt?

Movinghouseatlast · 28/12/2024 14:33

This happened to my partner.

The best thing we did was extend the mortgage and take a 5 year fix on it, which gave us some breathing space. He was out of work for 2 years before he admitted defeat and took a more junior role ( he was 55 so age was against him) Knowing we could manage the mortgage was a lifesaver at a very difficult time.

Original poster
lifeisunpredictable · 01/01/2025 16:19

Thanks all. Nearly the end of the holidays and dreading going back. Tried to contact a lawyer as I feel they haven’t followed process. I want to get a settlement as need to be out of that toxic environment.

OP posts:
Nicaveron · 09/05/2025 15:31

lifeisunpredictable · 28/12/2024 12:25

I Want to work in the same industry but in a slightly different area. They are following capability procedure (reasons for their performance concerns are woolly and not specific so am struggling to
understand the how to improve). Restructuring however Q1 so think they’re using this to manage me out so don’t have to pay redundancy. Think they want a younger workforce as staff being developed are much younger. Also being kept out of the loop on changes!

Definitely get in touch with ACAS. If they are assembling a younger workforce then you may be able to make an Age Discrimination claim. Doesn’t sound like there Performace plan would hold water.
take care

Original poster
lifeisunpredictable · 09/05/2025 17:13

thx. They made me redundant in the end (not due to performance). A right little song and dance. Won’t tolerate it next time. I have a new job so see what the new culture is like. Thanks for replies

OP posts:
FadedRed · 09/05/2025 17:16

I hope you got a decent settlement. Good luck in your new job.

Pearlyb · 10/05/2025 01:09

Maybe it was a blessing in disguise? Good luck for the new job! :)

UpMyself · 10/05/2025 01:17

Good luck in your new job.

One thing that's kept me going through periods of unemployment was someone telling me years ago that 'You'll find the money somewhere'.

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