redundancy advice!
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Hi, there are rumours of redundancy flying about where I work (well founded rumours too) however there is nothing in our HR guidelines about it, does anyone have any experience with this?
Assuming the worst happens, and I'm made redundant, what would happen regarding any holiday accrual? Eg I'm entitled to 25 days holiday a year, I've currently used 19.5, so I'm slightly over...if I were to be made redundant would they take it off my final pay (although that'd make them extraordinarily tight, in my opinion, its not my fault i've been made redundant!)
Are there any rules about redundancy pay companies have to adhere to? I've been there just over a year, but again can find nothing about how much (if any?) redundancy pay i'd be entitled to
Assuming the worst happens, and I'm made redundant, what would happen regarding any holiday accrual? Eg I'm entitled to 25 days holiday a year, I've currently used 19.5, so I'm slightly over...if I were to be made redundant would they take it off my final pay (although that'd make them extraordinarily tight, in my opinion, its not my fault i've been made redundant!)
Are there any rules about redundancy pay companies have to adhere to? I've been there just over a year, but again can find nothing about how much (if any?) redundancy pay i'd be entitled to
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But under some circumstances companies will go beyond that for some staff.
You would be entitled to whatever your contractual notice is (normally 1 week per year's service)
More notice may be entitled depending how may people are being made redundant. If its less than 100 people there has to be a 30 day consultation period (from the date you are OFFICIALLY informed of threat of redundancy) if it is more than 100 people that 30 days actually increases to 90.
It is common practice that if you have taken over your current accrued holidays they will be taken off and similarly if you have taken less then you will be paid any entitlement