Hey all,
My wife was recently let go and they’re offering her 4 months’ salary. She can go through a solicitor (company covers the fee) to check the terms and make sure it’s fair.
Anyone here been through something similar? Is it worth negotiating, or is that a decent offer?
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Four months sounds great, but since the company’s covering the solicitor, might as well get it looked at.
Dior said:
Four months sounds great, but since the company’s covering the solicitor, might as well get it looked at.
Yeah, she was only with them for 2 years, so this feels like a decent offer.
@Yun
Is she just over 2 years, or less? That makes a big difference because they can legally end employment easier if it’s under 2 years.
Merit said:
@Yun
Is she just over 2 years, or less? That makes a big difference because they can legally end employment easier if it’s under 2 years.
2 years and 2 months, lol.
Merit said:
@Yun
Is she just over 2 years, or less? That makes a big difference because they can legally end employment easier if it’s under 2 years.
2 years and 2 months, lol.
That’s generous, honestly. I went through a redundancy, and the standard is just a minimum payout with some consultation. When companies offer a better package, it’s often to speed things up.
Merit said:
@Yun
Is she just over 2 years, or less? That makes a big difference because they can legally end employment easier if it’s under 2 years.
2 years and 2 months, lol.
Sounds like she should take it. I had the same situation, and everyone got a package. Most places want a smooth exit without any pushback.
@Reese
Yeah, seems like the general advice here.
Merit said:
@Yun
Is she just over 2 years, or less? That makes a big difference because they can legally end employment easier if it’s under 2 years.
2 years and 2 months, lol.
Pretty good deal compared to some big companies. My workplace offers around 3 weeks per year worked.
@Marin
It’s broken down into 3 months PILON (taxed), 1 month compensation, and 2 weeks statutory pay. Found out the exact details recently.
@Yun
Many places give a month per year worked. So 4 months for 2 years is generous.
@Yun
Grab it! Statutory pay is usually a couple of weeks, so this is great. No tax on the first 30k, so she’ll likely keep a lot of it and can job-hunt.
QwizCommunity5 said:
@Yun
Grab it! Statutory pay is usually a couple of weeks, so this is great. No tax on the first 30k, so she’ll likely keep a lot of it and can job-hunt.
To clarify, it’s 3 months PILON (taxed), 1 month compensation, and 2 weeks statutory. HR said 4 months pay, but this is the full breakdown.
@Yun
You should add this to the main post! The PILON part is just because she won’t work the notice. The real redundancy pay is around a month and two weeks. Still, since it’s above the minimum, it’s worth a shot to negotiate.
@Charlie
Yeah, sorry for not including that initially. The agreement arrived later, so it was all kind of vague. Comments here helped clear things up.
Yun said:
@Charlie
Yeah, sorry for not including that initially. The agreement arrived later, so it was all kind of vague. Comments here helped clear things up.
The actual redundancy part varies by company and role. Statutory is a week per year, so she’s getting more than the base. Checking with the solicitor won’t hurt.
@Yun
Honestly, for just over 2 years, it’s a solid deal. Grab it and move on.
@Yun
Most professional jobs offer around a month per year worked, so I’d call this a win.
Baylen said:
@Yun
Most professional jobs offer around a month per year worked, so I’d call this a win.
No, the legal minimum is a week per year. 4 months for 2 years is way above average.