If company changes trade am I still entitled to my 25yrs+ redundancy, if I can't work with new owner and we dont get on do I lose my redundancy of 25+. I have no written contract.
2007-06-22 13:15:56 · 2 answers · asked by Anonymous in Business & Finance ➔ Other - Business & Finance
If you had not been there so long, I'd simply say that if you don't like it then you can leave. But as you've been there for 25+ years, I'd say that you need to sit down with the present owner and candidly discuss your concerns. I would add that a new buyer generally must assume the obligations of the old owner, including obligations to you.
2007-06-22 13:27:11 · answer #1 · answered by Tom K 7 · 0⤊ 0⤋
I do not know the work redundancy - but I assume that it is a form of retirement savings and address it as such. What ever benefits you have after 25 years are probably 100% vested and you would not forfite them when you leave - but you would have to check the terms with your employer. My people are fully vested after 4 years and get a yearly statement letting them know how much they are intitled to.
As for the second part - slavery is illeagle so you can't be sold with the business. The new owner may or may not want you to stay after an original breaking in period. Good luck.
2007-06-22 13:24:44 · answer #2 · answered by justwondering 6 · 0⤊ 0⤋