Was anybody made redundant earlier in the year? If so what was your redundancy payout?
With the next round hitting in a couple of weeks I'd feel happier knowing if there was at least a decent payout.
8 replies (most recent on top)
the US got 6 months, the employee representatives confirmed it to be both less than the US and less than last LR round (see: comment about 9 months salary). There's also the years of service consideration.
can't be sure, but likely in the range of 3-6 months for most people, not considering other components.
The £30000 is per termination and is NOT a lifetime allowance
PS - add on from my post: UK folks if you didn’t already know your first 30k is tax free as well, the rest taxed as per your normal. Be awareThis is a lifetime allowance, so if you have previously layed off before either at Cisco or somewhere else then that payment is taken into account for tax purposes. I.e you only get up to 1 x 30k tax free payment, ever…
Depending on tenure 6-9months, super long tenure perhaps anything up to 12months… basically you’ll be ok for the next 6months if you have zero cash reserves, else start your job hunting now! For me personally it allowed me to take a break and pivot my career, I no longer work in tech and never been happier! Working in tech right now is a complete sh!t show. So I was thankful for being layed off with a decent sum of money. It set me free!
with all components
That's the redundancy pay, PTO buyout and the gardening leave I guess, anything else?
Depends on length of service but someone laid off last year said it totalled with all components about nine months base salary.
From the communication we’ve had, it’s less than the US and less than last redundancy period. People I’ve spoken to in the know suggest it’s not as basic as being the same calculation for everyone, but years of service is an aspect. There is 1 month paid leave prior also.
heard it is 3 months + 1 week per year of service