Being made redundant after 4 years
2006-10-26 02:26:09 · 12 answers · asked by Australia 1 in Business & Finance ➔ Careers & Employment
i think it's a weeks wage for every year you've been there.
2006-10-26 02:29:41 · answer #1 · answered by Heather 5 · 0⤊ 0⤋
A week's pay for every year,a week and a half if your over 40.You have to have 2 years in a job to qualify.A lot of firms have a more generous redundancy scheme.Hope this helps.
2006-10-26 09:34:30 · answer #2 · answered by michael k 6 · 0⤊ 0⤋
I was faced with redundancy earlier in the year too. Hopefully these links should help (although they're not all answering the question you asked).
This may be interesting regarding notice period:
http://www.compactlaw.co.uk/free_legal_information/employment_law/empf16.html
and here:
http://www.direct.gov.uk/Employment/Employees/RedundancyAndLeavingYourJob/RedundancyAndLeavingYourJobArticles/fs/en?CONTENT_ID=10026689&chk=ErZX00
Basically the statutory notice period is 1 week for each worked up to a
maximum of 12-weeks (for continuous service over 2-years).
Also, Payment in Lieu of Notice (PILON) must include benefits such as
holiday entitlements:
http://www.businesslink.gov.uk/bdotg/action/detail;?r.l3=1074038949&r.l2=1073876974&r.l1=1073858787&r.s
2006-10-27 10:55:06 · answer #3 · answered by Mark W 2 · 0⤊ 0⤋
Depends on your salary at the time of being hoofed out.
You should get a full months money for 4 years, any more is a bonus.
Next job you're in, head straight for the stationary cupboard and empty it to get even.
Remember, jobs for life don't exist. Always be on the lookout for a physical move and a step up, possibly with your employers competition.
2006-10-26 09:35:28 · answer #4 · answered by Anonymous · 1⤊ 0⤋
I got made redundant in June and the booklet I got from www.insolvency.gov.uk says its a maximum of £290 a week multiplied by a figure calculated from your age and length of service. I have the list if you get stuck, email me with your age etc and i'll see what it says : )
2006-10-26 09:32:44 · answer #5 · answered by Flibble 3 · 0⤊ 0⤋
its a weeks wage for every year you have been there after 2 years continuous employment, i was made redundant last year.
2006-10-26 09:33:29 · answer #6 · answered by sharon f 3 · 0⤊ 0⤋
I don't think there is a statutory amount, I believe it's all relative to how long you've worked for the company, how much the company is worth etc, etc.
Don't quote me though
2006-10-26 09:28:45 · answer #7 · answered by holmegirl 3 · 0⤊ 0⤋
One weeks pay for every year you have worked there, plus any outstanding holiday pay. If you are aged over 45 it is 1.5 weeks pay for every year. Unless they have given you notice, you would be entitled to one months pay in lieu of notice too.
2006-10-26 10:13:53 · answer #8 · answered by deebradley2000 3 · 0⤊ 0⤋
one weeks pay for each year, up to a maximum of eight weeks but special rules apply for anyone over 50
2006-10-26 09:33:03 · answer #9 · answered by k_j_lane 1 · 0⤊ 0⤋
One month per year of service.
2006-10-26 09:38:17 · answer #10 · answered by Alice S 6 · 0⤊ 0⤋