Donate SIGN UP

Redundancy Pay

Avatar Image
sammmo | 17:46 Mon 14th Apr 2014 | Jobs
3 Answers
Our company has made the decision to close its manufacturing plants in the uk and Spain and expand its site in France .. The company is making good profits but to stay competitive it says it must do this. 206people are to loose there jobs. The company will not want bad publicity. How much do you think they will offer us to go quietly
Gravatar

Answers

1 to 3 of 3rss feed

Best Answer

No best answer has yet been selected by sammmo. Once a best answer has been selected, it will be shown here.

For more on marking an answer as the "Best Answer", please visit our FAQ.
You get so many weeks pay according to how long you've been there. You need to look at your contract and/or the company's redundancy policy to see the details. That's the minimum by law.
Here are details of Statutory redundancy. You will get this unless the employer has a more generous scheme. I don't think they will worry too much about paying more generously than they need to as I doubt it will make much difference in terms of publicity
https://www.gov.uk/calculate-your-redundancy-pay
The problem is that the statutory scheme caps the weekly pay at a hideously low figure - not too much above the figure for average weekly earnings. A decent company will not cap the weekly figure but will pay against the employees actual weekly earnings.
In the old days, a 'good' scheme paid 4x weekly earnings for each full year of employement - with a minimum of 8 weeks and a cap at around one year's pay. You can probably half that maximum these days.

1 to 3 of 3rss feed

Do you know the answer?

Redundancy Pay

Answer Question >>