Redundancy

[rage_face]

Hey guys,

On Friday afternoon as I was looking forward to a punt, my manager came and spoke with me and said I had been chose for a voluntary redundancy.

I'm really confused atm because I'm scared I won't find another job in this tough market. If I leave they will give me $14k plus I got about $8k in annual leave.

I've always been looking long term and I like my job, had planned to stay in it for at least another 5 years. But now everything is up in tatters.

Just wanted to see if people had been through similar and would like to share their experiences?

[WHITEDUDE]

Dont accept it, it they dont want you, let them sack you so you will get a better payout, those pricks

[rage_face]

Dont accept it, it they dont want you, let them sack you so you will get a better payout, those pricks

I can get a pay out if they sack me?

[wilisno]

I can get a pay out if they sack me?
Unless you've done something very wrong ...

[password thief]

Depends on a lot of things, like the nature of your employment contract and length of service. Usually you recieve more money via a VR. If you refuse the offer of a VR and they retrench you, you only get whatever outstanding entitlements you have accrued (eg annual leave, long service leave etc) plus a minimum period of notice. keep in mind that any leave paid out is taxed at 31c in the dollar. what industry are you in anyway? good luck

[EatmyhairyassholeBitch]

It's worth considering though. Sometimes the payout can be better and you can negotiate. If I was you I would say I'm interested but needed to discuss better payout (I bet you could get a couple of grand more), additional job search help paid by the company. If you accept it go straight to Centrelink register for unemployment benefits as it takes 6-9 weeks to get I think. Then go to your favourite shop to celebrate for new found freedom!!!

Also I think I remember you are single (not married), do you have a mortgage?

[suka02]

Don't be greedy with that money offer, don't forget you still got money in your job that you invested such as super, annual and long service leave. If your wage is enough or more than enough as an income, stick to the job and rather search for secondary casual job if you like to keep aside as your pocket money.
These days finding a job can be easy and hard, you need to look at the aspect of comfortableness in the new job, pay whether it's good or not, and maybe starting off from a base position where you need to understand more knowledge about the company.

Then again whatever makes you happy life goes with you as well..

[password thief]

If management has singled him out for a VR it means they don't value him as an employee. There is no future for him in that organisation so there's no point clinging on

[rage_face]

If management has singled him out for a VR it means they don't value him as an employee. There is no future for him in that organisation so there's no point clinging on

Other people got offered one too.

[CunningLinguist]

You should start looking for another job right away and hopefully find one before the VR offer expires then you can take VR and walk straight into another job.
Usually VR is more attractive than normal redundancy to entice people to accept it.
In most places when VR is offered the good people take it because they can find jobs and the shit people dont' cos they can't so your workplace is going to be left with all the losers, do you still want to work there if the place is full of losers ...

[Mr. Who]

In most places when VR is offered the good people take it because they can find jobs and the shit people dont' cos they can't so your workplace is going to be left with all the losers, do you still want to work there if the place is full of losers ...

Very good point! But some might say a place full of losers makes a promotion much more likely...

[lockhart]

VM package is always better than "Stood your ground" as they can always give you PRP = performance improvement program and nail you. please stay away from this forum and concentrating on "new opportunities".
Hope you are not in IT nor Call Centre, nor back office fields i.e accounting etc. If unfortunately yes, u better take whatever offer come your way at the earliest!

Good luck.

( Have been on the other side of the table giving out Redundant notification - not a good feeling ! Hate it!)

[AHLUNGOR]

Hey guys,

On Friday afternoon as I was looking forward to a punt, my manager came and spoke with me and said I had been chose for a voluntary redundancy.

I'm really confused atm because I'm scared I won't find another job in this tough market. If I leave they will give me $14k plus I got about $8k in annual leave.

I've always been looking long term and I like my job, had planned to stay in it for at least another 5 years. But now everything is up in tatters.

Just wanted to see if people had been through similar and would like to share their experiences?


If you are a mid to high income earner, say over $80K a year, and you have been with the company for more than five years, you are likely to be better off taking the offer as there are massive tax concession on redundancy , there is the standard one weeks pay per years of services, after five years you are entitled to a long service leave payout, they may have also offer you a pay in lieu of notice which is usually one month, and you should negotiate with your company to put as much payment as they can under item D in the payment summary to minimise your tax, you could have a small windfall ahead of you, and hope you can find a new job ASAP !

Good luck

Cheers

[bbbccc123]

What industry you in ?

[DarkZero01]

well if i were you, fuck the company, take all your sick leaves and (optional- piss off all your managers and bosses), start finding another job
good luck bro for finding yourself a new job.


[/U]
Hey guys,

On Friday afternoon as I was looking forward to a punt, my manager came and spoke with me and said I had been chose for a voluntary redundancy.

I'm really confused atm because I'm scared I won't find another job in this tough market. If I leave they will give me $14k plus I got about $8k in annual leave.

I've always been looking long term and I like my job, had planned to stay in it for at least another 5 years. But now everything is up in tatters.

Just wanted to see if people had been through similar and would like to share their experiences?

[goulash]

I'd recommend anyone employed to find a new job before you leave your current job where possible. The employment market is, quite frankly, slow. Only perfect fits, either in personality or skill, walk into new jobs easily. I must say also that the 457 visa scam is getting worse in the media, IT and accounting fields, and the outsource malarky is killing low-md-level employment growth at the big end of town. Qantas employs hundreds of mid-level IT people in Mascot. Almost all of them are Indians on 457 visas working at a 25% discount, taking jobs from locals. There are many more unemployed than there are advertised jobs in this country so always have a Plan B in your career, even if it's only opening a coffee cart at your local railway station.

[EatmyhairyassholeBitch]

I'd recommend anyone employed to find a new job before you leave your current job where possible. The employment market is, quite frankly, slow. Only perfect fits, either in personality or skill, walk into new jobs easily. I must say also that the 457 visa scam is getting worse in the media, IT and accounting fields, and the outsource malarky is killing low-md-level employment growth at the big end of town. Qantas employs hundreds of mid-level IT people in Mascot. Almost all of them are Indians on 457 visas working at a 25% discount, taking jobs from locals. There are many more unemployed than there are advertised jobs in this country so always have a Plan B in your career, even if it's only opening a coffee cart at your local railway station.

He is getting most likely 2-3 months of payout leaving voluntarily on their terms. If he left on his terms he wouldn't get zip except his annual leave pay.

What are you talking about with 457 visas and Qantas? Jobs are everywhere. Good people always get jobs. It can be a little tougher but it's not dire like you say.

[bob5]

1. If they sack you , you will get nothing other than your 8K annual leave or any long service leave if any

2. As you said, you like this job, so you should try to stay on if possible because 14k is not worth it, you will spend it quickly before you even know it.

3. Because this is only voluntary redundancy, so you do have an option not to take it !

[password thief]

I accepted a VR almost a year ago. After I cashed out my various leave entitlements and long service and paid tax I netted $110K clean. To sweeten the deal my organisation also paid for financial and taxation advice and rostered days off to apply for jobs. After I left I spent 3 weeks relaxing before picking-up another better, higher-paying job in the same industry. It was a great decision for me.

My advice to you is always embrace change. Take risks and back yourself!

[DeepImpact]

That sucks Bro, I feel sorry for you as it must be a stressful time but at least you can get some advice here.

From what I know of redundancies companies take different approaches and often end up pissing off the people that are left anyhow. Some companies offering voluntary redundancies may offer it to more people than they actually intend to make redundant as they may have a target of 15 people but offer it to 20 hoping that 15 will accept and if it so happened that 20 accepted then 5 would miss out on it.

In your case let's just assume it's worst case scenario and they are going to make you redundant either way. I would make sure I knew what incentive is there to take it. If it's the same as what a compulsory redundancy is going to be in terms of payout then why bother taking it. It should be at least another months pay on top of the months pay without notice plus the other legal requirements. If they offer it make sure you say you want to go straight away and get the months pay without notice as there is no point hanging around there either.

If it happens then make sure that you firstly get a good written reference from them before going. Secondly if your company pays an annual bonus then make sure you ask to be paid this bonus on top of the redundancy package as I know some people who were made redundant recently that got the same bonus as they were paid the previous year and it was a considerable amount of money. If you don't ask you probably won't get it. Thirdly ask them to pay for an agency to help you to update your resume and to help you to start looking for a job.

Don't burn your bridges either as you never know what can happen in the future because if the company turns around and they need more staff then they might come looking for you as I know people that has happened to before. Also people will move on from this company either during this redundancy or later on and the bigger the network of people you know the easier it will be to get a job.

[lockhart]

........ If it's the same as what a compulsory redundancy is going to be in terms of payout then why bother taking it. It should be at least another months pay on top of the months pay without notice plus the other legal requirements. If they offer it make sure you say you want to go straight away and get the months pay without notice as there is no point hanging around there either.

If it happens then make sure that you firstly get a good written reference from them before going. Secondly if your company pays an annual bonus then make sure you ask to be paid this bonus on top of the redundancy package as I know some people who were made redundant recently that got the same bonus as they were paid the previous year and it was a considerable amount of money. If you don't ask you probably won't get it. Thirdly ask them to pay for an agency to help you to update your resume and to help you to start looking for a job.

Don't burn your bridges either as you never know what can happen in the future because if the company turns around and they need more staff then they might come looking for you as I know people that has happened to before. Also people will move on from this company either during this redundancy or later on and the bigger the network of people you know the easier it will be to get a job.

The best advice thus far... Regarding company bonus (prorate) as long as your company never communicate, I,e proper HR policy that redundancy will not be entitled to " Company Bonus" then you have chance to deal it through arbitrator.

Don't burn any bridge (i.e takes unwarranted sick leaves ), keep working diligently .... if they execute PRP then u will lose much more!!! (Believe you r mid 20/early 30 and still have years of working lives ahead .