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Hi All,
Large company buys smaller company 12 months ago.
Old company contracts are about to expire end Sept
2 managers on equal level, both have 25 yrs service each (engineering)
Company decides that one man can do the job of two.
Both told that jobs are at risk, new position is to be made, we can both apply. (They expect at least one of us to apply)
Neither of us apply.
Company extends the application deadline.
Neither of us apply. Appears company were not expecting this scenario at all
Company now offers new contracts until Dec 31st, upon when we will depart with 3 months salary (taxed), and minimum statutory redundancy payment, (approx. £10k)
Where is the catch?
Why pay us 3 months salary and not wrap it up in a redundancy payment where as I wouldn't need to pay tax?
am I missing something?
Large company buys smaller company 12 months ago.
Old company contracts are about to expire end Sept
2 managers on equal level, both have 25 yrs service each (engineering)
Company decides that one man can do the job of two.
Both told that jobs are at risk, new position is to be made, we can both apply. (They expect at least one of us to apply)
Neither of us apply.
Company extends the application deadline.
Neither of us apply. Appears company were not expecting this scenario at all
Company now offers new contracts until Dec 31st, upon when we will depart with 3 months salary (taxed), and minimum statutory redundancy payment, (approx. £10k)
Where is the catch?
Why pay us 3 months salary and not wrap it up in a redundancy payment where as I wouldn't need to pay tax?
am I missing something?
