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Any HR people? Redundancy package question

7 replies

FVFrog · 14/07/2023 15:16

Would anyone know (very ballpark) what kind of package a senior executive with a large pharmaceutical company on a salary package @250k (including share options, large annual bonus etc) could expect to get after 9 years with the company?

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BunnyBettChetwynd · 14/07/2023 15:22

Here's lots of information on how statutory redundancy pay is calculated, but I would imagine that someone in that position/salary bracket would have a contractual entitlement to a specific redundancy package.https://www.acas.org.uk/manage-staff-redundancies/work-out-redundancy-pay

Step 6: Work out redundancy pay: Managing staff redundancies: step by step - Acas

How to work out what you must pay employees being made redundant.

https://www.acas.org.uk/manage-staff-redundancies/work-out-redundancy-pay

HermioneWeasley · 14/07/2023 15:35

Is a genuine redundancy or an exit for other reasons? Have they followed a consultation process?

the poster above has shared stat redundancy which is the bare minimum, plus you would work or be paid (or put on garden leave) for notice period. If it’s a redundancy then you’d normally be a good leaver for purposes of bonus, share options etc.

FVFrog · 14/07/2023 15:36

Thank you. I suspect a lot more than statutory!

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FVFrog · 14/07/2023 15:37

@HermioneWeasley genuine redundancy

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FloydPepper · 14/07/2023 15:40

Really hard to say and depends on whether the company plays hard or nice

hard, statutory.
nice, 3-6 months worth of salary plus notice period

FloydPepper · 14/07/2023 15:41

Sorry meant statutory+notice period for the worst case

FVFrog · 14/07/2023 17:10

Thanks all

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