Active discussions

Meet the Other Phone. Child-safe in minutes.

Meet the Other Phone.
Child-safe in minutes.

Buy now

Please or to access all these features

Talk
Work

Chat with other users about all things related to working life on our Work forum.

Original poster

I have just had some shocking news - redundancy

117 replies

lisalisa · 03/08/2006 16:37

Message withdrawn

OP posts:
Firefox · 06/08/2006 15:07

Lisalisa - I was made redunandat 3 years ago and it came as a huge shock to me. I was devasted and it is hard not to take it personally. Unlike you however, I had no warning - I was called into a meeting in the morning - told my position was no longer - then told to collect my belongings and had to leave the building that day. I was mortified. As the company (a large investment bank in the City) hadn't followed standard legal redunancy procedures they gave me the following deal which was the following

  • 1 month gross salary per year I had worked there
  • consultancy at an outplacement agency who helps you for 4 months after to find another new job. I found these people very helpful
  • an additional bonus payout (hush money I saw it as)
  • free legal advice with a solicitor of my choice to organise the compromise agreement

I didn't agree to anything at my initial meeting either - as i was so shell shocked. Everything was negiogiated through my solictor.

In the end I walked away with a lovely cash tax free windfall, and 5 months later ended up getting a much much better job with more money and better prospects who are also much more flexible. So although it was a horrid time in my life then - it turned out to be a positive experience.

Original poster
lisalisa · 06/08/2006 15:21

Message withdrawn

OP posts:
meowmix · 06/08/2006 15:28

try to stay calm (she says patronisingly - sorry). Do you have a friend you could meet for coffee before the meeting and walk in to the building with? oh I guess maybe you'll be at work anyway? could you find someone to walk you to the room and then whisk you straight away for a coffee?

remember they'll be as panicy as you - its a horrible horrible thing for both sides (unless they're hellish in which case do you want to work there anyway?)

Just stick to this "I'll talk with my lawyer and come back to you. No I'm not willing to agree anything right now, as I said..." They have to go through the process, even if its disciplinary.

They'll prob give you a letter that states the criteria by which you were selected. Don't feel you have to comment on it because it will feel like an attack on you and your work. Take whatever they give you and go to your solicitor. Try to keep control by saying things like "I assume I can leave for the day now....Good, I'll be in touch tomorrow"

it will be horrid, but less horrid than you're imagining.

CAT me if I can help further.

Firefox · 06/08/2006 15:31

I also forgot to add that I was also entitled to free training courses too after my redunandancy via the outplacement agency. For my line of work the courses are worth between £1k-3k so that was an added bonus too.

I didn't have any other meetings afterwards with my old company. All negogiations were done via my solictor.

I can also say that having been made redundant didn't seem to put any potential employers off. In fact I keep meeting lots of people since who have been made redunandant through mergers and industry specific economic climate - so please don't worry - it is not personal. Try as far as possible to maintain a professional relationship with your old company too as that way you'll be able to get a good reference.

Good luck for Monday.

Uwila · 07/08/2006 10:11

Good luck, Lisa!

suejonez · 07/08/2006 10:40

Yes good luck

Uwila · 07/08/2006 13:04

I hope it went well. Update us when you can. (I realise you probably can't at work)

PollyLogos · 07/08/2006 16:40

Hope today went as well as can be expected

Uwila · 07/08/2006 22:27

Well?????

mrsdarcy · 07/08/2006 22:55

Probably a bit late now, but I'm a solicitor and was made redundant from a City firm at the end of maternity leave. I hope today went well.

I instructed a solicitor to help negotiate a compromise agreement. I drafted most of the letters myself and discussed in advance how he was going ot negoatiate, but I wanted a letterhead to spur them to action. It's a few years ago now but iirc it included an agreed reference and a mutual no-slagging-off clause.

At a very early stage in the negotiations, I made sure we had it unequivocally on the record that my performance wasn't in issue. I also made a point of staying on good terms with the partners who weren't involved in the redundancy.

WideWebWitch · 08/08/2006 08:23

LisaLisa, how did it go? I was thinking of you yesterday.

meowmix · 08/08/2006 11:36

bumping to see if LisaLisa is back on and able to tell us how it went.

Don't worry LL - today is the tough day, it gets easier here on in.

Bugsy2 · 08/08/2006 11:56

yes, bumping too. How did it go LL?

Uwila · 08/08/2006 13:25

Anxiously waiting...

meowmix · 08/08/2006 13:59

I'm pacing here... pacing I tell you {shoots nervous look at screen]

Jackstini · 08/08/2006 14:36

I know - been lurking all day waiting for some news....

Original poster
lisalisa · 08/08/2006 14:54

Message withdrawn

OP posts:
Freckle · 08/08/2006 14:56

Well done. Not a nice process to go through and bravo for taking legal advice on the matter. Too many solicitors think they know it all and are above being advised - and I have to say, in my experience, that lawyers make the worst employers and seem to have the least knowledge wrt employment law.

hoxtonchick · 08/08/2006 14:56

horrid news lisalisa, really hope you can wring a good settlement out of them.

Original poster
lisalisa · 08/08/2006 14:59

Message withdrawn

OP posts:
cosmicdancer · 08/08/2006 15:00

Well done LL.
I had to take similar action against my employer when DD was 9 months old.
It is very stressful isn't it?
The law is on your side though so stand your ground. Good luck

bundle · 08/08/2006 15:01

gosh lisalisa, i had missed this, how scary for you. well done on getting organised and for everyone here being so fabulously helpful. good luck, xxxx

Original poster
lisalisa · 08/08/2006 15:20

Message withdrawn

OP posts:
Marina · 08/08/2006 15:22

No helpful advice to offer as such but so sorry you have this to contend with now as well lisalisa. Good luck with taking the so and sos all the way to the cleaners.

bundle · 08/08/2006 15:22

lisalisa, MN at its finest..