Redundancy

[gemini45]

Just found out DH being made redundant- threat for a few months now confirmed he is being targeted despite being a union rep. Still strikes to negotiate but I'm resigned to the likelihood this will happen. Sector is further education and he's been there about 12 years. What now?! He's 49...
can he sign on for JSA? Worried about money. I have credit card debt but we do have property although still have huge mortgages! 7 yo daughter.

If he's been there 12 years, he'll receive a reasonable amount of redundancy, the first £30k of which will be tax free.

He'll be able to claim contribution-based JSA (or is it UC now?) for 6 months.

Then it depends on savings, but he'll find something a long time before then. There is a skills shortage and as long as he's flexible, he should be sorted quite quickly. Try not to worry.

What payout will he get? I know a few people who have been made redundant or opted to take voluntary redundancy and it’s actually been a good thing for them - they’ve had a lump sum payout, paid off a chunk of mortgage and found another job within a couple of months so they’ve ended up financially quids in. Don’t worry too much, just support him as he looks for another job. Encourage him to update his CV and put out feelers to recruiters and ex-colleagues/his network etc.

Thank you

He rejected voluntary severance deciding to fight it out instead so his payout has reduced significantly - he's still fighting too and working 🙄

Reassuring though about skills shortage