Key Post Made redundant- checklist

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Carpenter

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Dear All
I've just been made redundant after 9 years with my employer, a bolt out of the blue as it were. I'd been thinking about a career change anyway so I'm looking on it as a blessing in disguise, "one door closes, another opens" sort of thing. I'm trying to put together a checklist of things I need "sorted" before I part ways, can you help me? This my list so far:

1. Redundancy package (I've already looked into my minimum statutory entitlement)
2. P60 (and P45 in due course)
3. Statement of holidays due etc.
4. Statement and details regarding DC pension.
5. Reference

I'd be most interested in hearing from people who experienced this in the past, how they coped and so on (needless to say it's a little stressful at the moment so all input will be gratefully received!).
 
Hi Carpenter,

Very sorry to hear this news. I would have no hesitation in saying that with your knowledge etc. I'm sure you won't be out of work for long. I'm a firm believer that these things work out for the best in the end and I'm sure I speak for everyone on AAM when I wish you the best on your new path. :)

You may find something useful on Citizens' Information here.

Some of previous threads might give some advice.
 
Sorry to hear about it. Been there...

You should also obtain an RP1 (?) certificate of redundancy.

Things to sort out after:

Sign on ASAP.
File a P50 claim for repayment of tax if you anticipate being unemployed for a while.
 
Hi Carpenter

Sorry to hear that and I echo Sueellen's comments that your knowledge and attitude will stand to you in the job market.

One of the first things to clarify is that the redundancy is justified? And that the basis for selection is fair. If it's not fair, then you would have been unfairly dismissed and would be able to take a case, or negotiate a better package.

Brendan
 
Hi Carpenter,
Sorry to hear your unfortunate news. However, consultancy/clerk of works beckons. Your thorough knowledge of all things building is invaluable to this forum. I wish you the best of luck in your new venture.
 
to add to your list:

1. if you have health insurance through work, check the continuity and contact information etc.
2. If your employer has a share option / profit sharing scheme, what happens with any benefit that is time based and would have accrued in the future. Doe s it all vest now?
3. if you have a work phone / laptop / car / van, can you keep them or make them part of the redundancy at a reduced cost
4. Ask your employer if they are offering an outplacement service. This can be used to help you prepare to look for a new job / start a business.

I view job security as something my parents had ! So you are right to take a positive attitude to this redundancy and embrace the opportunity that the extra cash will give you. Good Luck !
 
Hi Carpenter,

Right now I can't think of any other practical pointers to add, so I guess I'm really just chiming in to echo the comments already made by the others and to wish you the very best in whatever new venture you decide to undertake. With your expertise and attitude, I'm sure that things will work out very well.

All change is stressful, even when it's positive, so if at all possible I hope you'll also take the opportunity to enjoy a little time out, take stock, smell the coffee, etc. :)
 
Redundancy was one of the best things that ever happened to me. You seem to have the right attitude. But for those who may not, can I point out that people aren't made redundant, positions are. So you shouldn't see this as a reflection on you or your abilities.

You will also have all the normal tasks associated with leaving a job, e.g. if you used your work email address outside work, you may need to update online profiles. You could also ask them to forward your work email address for a while.
 
If all the workforce is going then is the company doing anything on "outplacement" for the employees.

eg a 4 part programme (run over 2 wrok days) Awareness, CV prep, Interview prep, and INterview skills.

Are the company getting Fás in to see what if any skills / courses they can offer, and I have to say Fás are good when it's part of a redundancy programme.

Notice period. if your 9 years I think you are entitled to 6 weeks notice or pil.

Time off for interviews.

Are they company getting any companies in to do in house interviews..

these are just some thoughts..
 
Try and stick your employer for as much money as possible, use whatever leverage you have. Forget about loyalty etc. you are on the titanic now and its every man for himself, you need to be ruthless.

If its a multinational and there is a union involved then the company will bring in IBEC, they will show what other companies have paid in similar circumstances, the unions will haggle for a bit more, the company will concede a little and then everybody thinks they a winner and the workers will cooperate with the move etc., thats how it usually pans out anyway.

It all depends on your exact circumstances, but go in to work in the morning and ask yourself the question - what leverage do I have here?
 
As one who recently went thru' this my advice is to take a week or two total break. Get internet access at home and use the time to read up on any things you may need to brush up on for interviews or business setup. While I dont know your specifics regarding finance etc. look upon it as being paid for the next few months. Give yourself a time frame for starting on the job hunt. Most important, as stated by CM, sign on straight away even if you're paid in lieu as this will be dated from your actual sign on date as oppose to the date your employment was terminated. Bring your RP1 form and the redundancy settlement letter down to them also. Your half-way to your next employment with the attitude your taking so good luck and enjoy.
 
Make Sure you use up your full holiday entitlement before officially departing.
You get taxed on any days that they pay you for.

I've been through redundancy a couple of times, and its a case of treating looking for a new job as a new job. Remaining positive helps as well.
 
I just wanted to thank everyone for their good wishes, both on this thread and via PMs. I've secured employment elsewhere and I'm really looking forward to starting this exciting new position at the end of March. I've some time off before I start which is nice too. AAM, as ever, has proved to be a fantastic resource to me over this time. Thanks again.

Carpenter
 
redstar said:
Congrats on the new job !! You've hit the ideal outcome for anyone being made redundant - getting a new job almost immediately along with a few bob from the old job !
Click to expand...

Finished up today and got my few bob, happy days!
 
Carpenter , Now that 2009 is fast approaching and you were made redundant in 2008, remember when doing your tax returns for 2008 to apply for ' Top Slicing Relief '
This is always claimed in year following year of redundancy.
You can read about this in leaflet IT21 from ww.revenue.ie

Here is a sample of what it is about :
What is Top Slicing Relief?

The reliefs outlined in this leaflet exempt or reduce the amount of the lump sum to be taxed. Top Slicing relief relates to the tax payable and ensures that your lump sum is not taxed at a rate higher than your average rate of tax for the 3 years* prior to redundancy or retirement.
The formula for calculating this relief is:
Taxable lump sum X (tax rate applied to lump sum - average taxrate for previous 3 years)
Top Slicing Relief may be claimed, by contacting Revenue after the end of the tax year.
 
RBS redundancy in 2009

Has anyone got experiences from being made redundant by Royal Bank of Scotland in 2009/2010?
What was the package offered?

Thanks
 
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