Here's the thing ... statutory varies between countries. But in UK it's
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half a week’s pay for each full year you were under 22
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one week’s pay for each full year you were 22 or older, but under 41
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one and half week’s pay for each full year you were 41 or older.
For UK, again, pay however is capped at £571.
I left already but for the sake of calculation - I earned £1900 per week (UK government takes weekly pay for calculation) so in my case my total redundancy pay would be after 5 years of service
"Your statutory redundancy payment is £4,282.50 (£4,455 in Northern Ireland)." <-- used government calculator.
That's taxable of course ! So the bottom line would be less than a single month's wage after tax. Also bear in mind a lot of countries in Europe get paid car allowance etc. - whilst paid as salary - it is not included in any calculation (same with pension and bonus and % pay raises). Not that it would make a difference due to the limit.
The thing is though - which is why I don't think they go for statutory - is that redundancies have very specific employment laws in Europe.
Again it changes from country to country but in a nutshell here in the UK
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There has to be a consultation period of 90 days
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Company has to make sure all options are exhausted and your skills cannot be translated any further and there's essentially no 'future' for your skills in the company
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They cannot re-hire into the same position for approx. 6 months.
Even if they change job spec and role name in front of a judge you will have a damn good chance if you find out they started re-hiring ...
Bottom line is - they wouldn't want that ... it is easier to throw money at people to make them leave and shut up about it.
So BCOM wouldn't want to be tier to any law - they just want to get rid the cost and the best way to do is to just ignore redundancies and pay more / better severances and if you don't sign ? You probably find yourself in a situation where they find SOMETHING they can base your firing / redundancy on.
And take employment benefits ? Don't kid yourself. Here in the UK it doesn't matter how much you earned - statutory employment benefits are £77 per week ... Could luck make a living from that - or survive even for that matter.
So you got two choices
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Risk to get laid off - take severance and move on
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Move now