Would you apply for redundancy in these circumstances?

[MaybeIamJealous]

It was announced yesterday that there are to be some redundancies in my workplace. I have been there a long time and my redundancy pay would likely work out as approx 2.5 years take home pay. DH wants me to go for it.

I am torn as I am perimenopausal and also have health issues. As it is, I only work part time because of these issues. I don't think I would find a new job that easily.

On the other hand, I am overworked and underpaid. I've only stuck it with this job as long as I have because of my health and the fear of not being able to find another job.

I could probably make the redundancy payment stretch to 4-5 years of my expenses with careful budgeting and a few cutbacks, bringing me to 55-ish. I don't think my health issues would automatically qualify me for disability benefits, but I could look further into this.

DH also seems to think, after a year or two of not working, I may recover and be able to take up full time employment again but I worry I won't and he'll resent paying for everything, having to make sacrifices, when I can no longer contribute to the household expenses, and also that it would impact on future plans (DC's choice of university, our retirement pot etc).

I've spent the night tossing and turning over this. My brain is fried. For now the company is asking for volunteers and the terms are reasonable. I worry that enforced redundancies could follow and maybe the terms wouldn't be as good.

I'd love some advice. Thanks.

I would take it in a heartbeat.

Yeah; those are great terms and the money would cover a very significant period of time in which to plan what's next.

I'd see it as a great opportunity.

Time to rest and recover. If the lump sum is so good, maybe pay off debts or set up investments for your DCs future needs.

Maybe in a year you could take a different, more rewarding job, even if the pay is less.

You can't put a price on your health.

I get what you're saying @Stairsdown. It's not that I know DH would get pissy. We generally have a good relationship. It's just that I have always been financially independent /paid my fair share. I have no reason to think he'd resent me taking it other than I fear having to make some lifestyle changes due to the change in finances would eventually wear thin.

Have you discussed the scenario with your DH where you don't recover and don't get another job ?

How long do you have to decide?

I had to decide if I wanted to take VR last year, but circumstances somewhat different. I am a bit older and in the position to find another job, so probably not that helpful to you. I went for it in the end because it was such a big chunk of money.

Could you do any sort of job? Part time waitressing or exam invigilation is minimum wage, but low stress and effort.

This is DH's argument. I've been ill for a number of years and at times had to take some months off work to recuperate and even ended up in hospital a few times. It has impacted on our lives immensely. I have had to choose between work and pulling my weight at home. DH has totally stepped up, and even my teenage son has almost become head chef a this stage, taking on a lot of the cooking. Maybe for him he'd rather pay all the bills etc than have to do 90% of the housework, plus allowing me the best opportunity to recover.

I guess I'm just scared. I have always worked and went back after each maternity leave between 6 & 9 months after DC was born to keep my foot in the door, so to speak.

Physically I couldn't do anything like waitressing. I can barely stand up some days. But if I did recover I would definitely take on any job.

I will need to go through finances and have a deeper conversation with DH over the weekend. I have 2 weeks to apply so a bit of time yet.

I did this in my early 40s, although I knew my health issues were totally caused by the job and would go away (and weren't severe enough to impact future work). I had always been financially independent and while DH never gets pissy he runs a small business which is at times precarious and mine was the "reliable" income. I hesitated and he told me in no uncertain terms to go for it. It was one of the best decisions I ever made as I stayed home for a year with the young DCs and then found a vastly better job (in terms of less pressure, interesting, closer to home, more flexible, the pay was similar). I paid some of my redundancy into my pension to cover a period out of work. It is a gamble and I am normally risk-averse but it worked really well.

I would take it, you could well be made redundant on worse terms if you don't and I would think that was a greater risk than not being able to find a job.

Try to separate your health issues out, if it gets worse you won't be able to do your current job either.

I am with your husband, go for it, use some of the time to get your health back and consider new opportunities. You have been there a long time and are over worked. How much longer can you actually continue like that?

Do you take any vitamins? Like D and Magnesium Chelated? They are great for perimenopause.

I would take this generous redundancy pay!

Also remember that if the company is struggling and having to make voluntary redundancies for now, there is no guarantee that this will be the end of it and they might very well need to make people redundant later on in the year with much less generous packages.

You can then find a part-time job once you have had a little rest and continue to bring in your own money.

Take it. It gives 2.5 years to recuperate and work out the next decade before state pension and presumably you have private pension pot as well

I'm glad it has worked out for you @ExtraDecluttering . I do wonder if my job has been impacting my recovery. Maybe with a year or two of looking after myself and not having to worry about work, maybe I could recover. My job isn't brilliantly paid, although I am one of the highest paid employees in our department due to experience etc. It's just not a particularly well paid job in general. But there is a lot of pressure and deadlines, so I'm always working extra unpaid hours too.

I think discussing this has made me feel better about putting myself forward for it. I will still look at the finances and discuss more with DH at the weekend first. But I think I'm coming around to seeing this as an opportunity, not setback.

Thanks all for the messages. I had no idea this section of mumsnet was so busy. I do have to work now, but will check back in later or when I make a final decision (I'm definitely leaning towards taking it!). I imagine most people, when sprung with the news of job losses and redundancy, would have a bit of a wobble too.

Yes - Because it means she can take some time off, and then in 6/12 months look for another more suitable role

Its a no brainer

100% go for it, mostly as it sounds possible that you'll be made redundant later anyway and the terms won't be so good. Aim to take 6 months off before you decide on your next step, don't discount working again on a part time basis. If I were you I'd join some voluntary groups or a Board for a local charity of some kind. Have something in your CV that you can use to cover this employment gap so you don't look up in 18 months with a resentful husband and a CV that makes potential employers nervous.

Broadly what is your job? And do you still have a mortgage etc? 2.5 years of pay is great to be honest, also, you don’t have to take 2.5 years off, if you have a lump sum you could go back part time to somewhere. I would take it and have voluntarily taken redundancy before and loved my time off, but my circumstances are a bit different.

I would snatch their hand off. That is a massive payout!

Grab it with both hands! Is there anything else you'd like to do? Maybe set up your own business that way you can choose your own working hours? I have a friend who was offered it and she was going to set up a carpet cleaning business and use the money for the equipment. It's fell through for her and she's being relocated but I'd use the time and money to do something for myself or at least train for something else that interests me with less stress.

I'd be seriously tempted!
I'm in a similar situation, with no option for redundancy, but if I was I would:

• find out how many more years I'd need to work/make contributions to make sure I'd get a full state pension - top up if possible
• do an audit of the best way to spend the redundancy money - pay of part/all of the mortgage, put aside money for your pension, etc
• look into retraining, or roles which allow you to work from home when you're having a rough day

Good luck

Go for it. Health is more important than being overworked and underpaid.
Your DH sounds lovely too, so I'm sure he knows there may be a risk that you don't find work for a while.
However, I'm not sure what you do but you said you can't do physical jobs. There's a Facebook page dedicated to showing wfh jobs. Not sure if I'm allowed to say it on here so message me if you want to know the page.
Just something to look at when you may be ready to work in the future.

Take the redundancy money and run. You sound frazzled and the redundancy money will give you some time to re-energise. Don’t put yourself down by thinking you won’t be able to find another job later on, you’d be surprised. Good luck and go for it.

Take the money but see if you can get another part time job too. Even if it’s just a day or sporadic temping just to keep you in the workforce and have something for your CV etc. It might make you feel better mentally to at least have something on the go.

Maybe just sure your husband gets insurance for if he loses his job etc, so you have peace of mind relying on one income.