How likely is it I’ll be made redundant?

[Toddlernightmare]

I know nobody can actually answer this, but I don’t know whether to jump ship or try and hang in there because I love my job.

Company is making a £5m saving on staff costs, equating to around 75 roles out of 200 (my guesstimate).

I work in a team of 3 others. VR has been announced - I know that one is nearing retirement age and one hates her job and is actively applying, but obviously I can’t ask if they’ve applied for it. Consultation begins next month, ends in July and I could be out of a job by end of August but I really want to stay ☹️

WWYD? Risk it and stick it out, apply for other roles and jump if offered?

Will you still love your job if the workforce is decimated?

If you want to stay, don't worry about it. If you're made redundant cross that bridge when you come to it but it would be madness to leave without a pay off when you don't even want to leave.

How long have you been there? If redundancy happens would you get a reasonable sum as settlement?

Sorry I should’ve added. I’ve only been there a year - I’ll get a weeks pay as stat redundancy, and they have said contractual notice will apply so I’d have 30 days should I be chosen.

I am just worried because I’m on a relatively high salary, I have a 2 year old and we can’t afford for me to be out of work.

But I realise the job could look very different if my workload suddenly doubles.

Honestly it’s keeping me up at night at the moment.

Well, it doesn't hurt to start looking for another job. Application processes can be quite long, so if you're chosen you could have something already lined up
And if you don't get chosen and don't have another job, you haven't lost anything.
And if you do get another job but aren't chosen, you can make that decision at that point.

Do you have any sense of whether they’ll try to make a few people from each team redundant, or if they will stop whole functions and let entire teams go?

You should start applying for other roles - in my experience it can take 3+ months from an initial application to being offered the job. The company will also have to pay you less redundancy than some others there, so that might make you a bit more vulnerable.

If you keep your job, no harm done, you can turn down any other job offers. But I think you should cover yourself by sending in some applications just in case

Do other people have the same skill set as you?
Remember that in principle it’s the job that is made redundant not the person, so this may affect the selection. Also, would you be able / willing to transfer into another role in the organisation ? It’s a complex situation so think as flexibly as you can. And definitely apply for other positions meanwhile.

Are they restructuring? If you stay your role and workload might look different. Are there other roles available that you could apply for?