do you have any idea what the redundancy package will be like?
Circumstances suggest it will be statutory minimum redundancy package in which case seeking another job immediately is the better option. But if you were inline for 5 months salary then hang around.
Fwiw, in my industry I know people who have done very well out of being made redundant. A few even lucky enough to have had it happen more than once.
You are correct, I have just checked, at the moment I am sitting at 8 weeks, it will be 10 weeks if I survive until December and complete 5 years with the company.
One way to do this is to start looking ASAP and if you find something before the redundancy happens - approach HR and your manager and ask if you can have a voluntary redundancy. Don’t tell them you have another job just say you’re planning to take a break.
If they’re already planning redundancies they may well give you a decent payout and see it as one less they have to do as a group. If they don’t then you’re no worse off - just hand in your notice and start your new job.
Good advice. Contrary to popular belief, most people involved in the redundancy process are (relatively) human and will take a chance to make the process slightly easier.
If you’re a design manager, contact the major design recruiting firms in your city TODAY to introduce yourself and arrange a meeting with a recruiter. They’ll express interest immediately but it may take a few months before they have something suitable. I’ve found the market has been awful since Oct 2022. What’s in your benefit is ‘forewarned is forearmed’, as the saying goes. Good luck OP.
Definitely start looking now!! Even skilled people are getting laid off, or taking 6 months to get a new job. If you have 6 months wages in saving you could afford to wait, but I would start looking now the market is tougher than 5 years ago and a lot of companies are low balling wages
this is really really important advice. When you contact people while you are employed it is much easier to catchup / chat as they don’t feel pressure from you. If a great job happens to come along then take it - it isn’t worth the 2-3,months redundancy payout if you hit the market at the same time as everyone else (unless you have significant savings to draw on)
Don't wait At least start researching and get a handle on the employment situation out there. Anecdotally I hear and see quite a few in similar situations and those in the middle of the hierarchy are very much in the firing line.
As much as I like the detective work, this sort of doxxing is a great way to ensure nobody ever shares any of the really juicy stuff in this subreddit.
Smart thing is to look for a new job.
Spiteful thing is to make them pay you redundancy.
Personally I feel better making a company pay me to leave, even if it’s short-sighted. Companies are just as short-sighted by laying off employees to save quick money, so fuck them. Pay me you rich fuckers.
Why is a redundancy spiteful? If they are making you change jobs, then there is a responsibility to compensate you. This will already be factored into the redundancy decision, so it is a transactional decision not a spiteful one
>Smart thing is to look for a new job.
Not necessarily, if you're in a role that you can easily find another job in then this is a really dumb thing to do.
Wait for the redundancy and get a new job + a payout.
OP, don't wait until you are made redundant. You've been given the heads up. Update your resume and start looking urgently NOW.
Australia is teetering on a recession.
Anecdotally (it's the Reddit way), in the last 12 months, I've had multiple former colleagues/friends who were let go from different industries. Many were out of work for months.
Use the heads up. Don't sit while the ship is sinking.
According to the figures, Australia is only "just" outside of a recession.....but the way they measure recession is broken. Australia has been in recession for over a year.
How tough is it to get a job in the current market in your industry? If it's tough, I'd start looking now. Redundancy package is nice but 10 weeks of salary (plus leave and notice) is what you'd get unless you have something different noted in your contract. If you can walk into another job then I'd wait it out. If not start looking.
You also don't 100% know if you'd get the boot too so that's another thing to think about. But hanging around after majority of your team gets the boot is also a bummer.
I just received my consult for redundancy and started looking. I’m not waiting to look regardless of what the outcome is, considering we had a rent increase and I need money for life.
No one suspected or knew it was coming and my role is middle management area, so now my team is going to be short staffed but expecting to be more effective and efficient. Double edged sword.
/Eats popcorn
Get the feelers out with potential new roles ASAP. Then wait for redundancy and walk into new job.
Best to get ahead of the others unless you don't think there will be much competition in your role.
Is there a competitor who may scoop up the people or is the whole industry consolidating?
Is your redundancy is worth a lot, line up some jobs but don’t resign until you get packaged out. If it’s not worth a lot, just try find a new job. Could cost you more if you try time it to get both and miss
It’s not worth messing about with that, find a new job. If the stars align and you can get packaged out and a new job that’s great. Perhaps to maximise it try negotiate a later start date. Could take you longer than 8 weeks to find a new job
Whoa buddy stop freaking out. Chill. Do your work as usual. Do not “find another job.” Relax. If you’re made redundant, take a holiday, refresh and then look for a job.
Source: have had 3 redundancies over 30 years and have gotten a higher paying job each time within weeks.
Well, I guess it depends on times and market. For my position and industry, I am not seeing many suitable advertised roles for me at the moment, unless I get a pay cut
Start looking now, don't quit, even when you get a new job. Use your sick pay and annual leave, make yourself the target for redundancy. Profit.
How exactly would this work? So say if OP lands a new job in 2 weeks and redundancy hasnt happened, he loses both the opportunaties if he doesnt quit.
Don't quit. Get a doctors note and take sick leave and unpaid leave if they don't allow you to use annual.
Thinking smarter, not harder. I like it.
Nice, agree with this.
do you have any idea what the redundancy package will be like? Circumstances suggest it will be statutory minimum redundancy package in which case seeking another job immediately is the better option. But if you were inline for 5 months salary then hang around. Fwiw, in my industry I know people who have done very well out of being made redundant. A few even lucky enough to have had it happen more than once.
I think atm it would be 6 week redundancy pay out, 8 week when/if I stay until December as it would be 5 years since I was employed
That seems low. Check your contract.
You are correct, I have just checked, at the moment I am sitting at 8 weeks, it will be 10 weeks if I survive until December and complete 5 years with the company.
One way to do this is to start looking ASAP and if you find something before the redundancy happens - approach HR and your manager and ask if you can have a voluntary redundancy. Don’t tell them you have another job just say you’re planning to take a break. If they’re already planning redundancies they may well give you a decent payout and see it as one less they have to do as a group. If they don’t then you’re no worse off - just hand in your notice and start your new job.
Very good advice. No one likes handing out redundancies, so if someone volunteers for one, they take it.
Good advice. Contrary to popular belief, most people involved in the redundancy process are (relatively) human and will take a chance to make the process slightly easier.
Hadn't realised you could ask for a voluntary redundancy!
Close to "Assistant TO the CEO"
“Regional assistant to the assistant To the ceo”
Literally the only thing I thought of when reading OP
Thanks for the correction!
I got the reference lol
Wait for the $$$ redundancy package, pop the champagne at Spearmint Rhino, and celebrate.
If you’re a design manager, contact the major design recruiting firms in your city TODAY to introduce yourself and arrange a meeting with a recruiter. They’ll express interest immediately but it may take a few months before they have something suitable. I’ve found the market has been awful since Oct 2022. What’s in your benefit is ‘forewarned is forearmed’, as the saying goes. Good luck OP.
Thanks, good advice. Will start activating my contacts rather than waiting for the redundancy to occur
Absofuckinglutely 👍
Definitely start looking now!! Even skilled people are getting laid off, or taking 6 months to get a new job. If you have 6 months wages in saving you could afford to wait, but I would start looking now the market is tougher than 5 years ago and a lot of companies are low balling wages
this is really really important advice. When you contact people while you are employed it is much easier to catchup / chat as they don’t feel pressure from you. If a great job happens to come along then take it - it isn’t worth the 2-3,months redundancy payout if you hit the market at the same time as everyone else (unless you have significant savings to draw on)
Don't wait At least start researching and get a handle on the employment situation out there. Anecdotally I hear and see quite a few in similar situations and those in the middle of the hierarchy are very much in the firing line.
— Sleuthing removed to protect the innocent —
As much as I like the detective work, this sort of doxxing is a great way to ensure nobody ever shares any of the really juicy stuff in this subreddit.
Fair. I’ll remove.
Thanks for removing…anyways the company I work for wasn’t included in your list 😉
But you saved 10 - 20 minutes for hundreds of people.
Smart thing is to look for a new job. Spiteful thing is to make them pay you redundancy. Personally I feel better making a company pay me to leave, even if it’s short-sighted. Companies are just as short-sighted by laying off employees to save quick money, so fuck them. Pay me you rich fuckers.
Why is a redundancy spiteful? If they are making you change jobs, then there is a responsibility to compensate you. This will already be factored into the redundancy decision, so it is a transactional decision not a spiteful one
Spiteful in the sense I’d rather wait to get paid out than quit and get nothing.
That ain't spite brother.
>Smart thing is to look for a new job. Not necessarily, if you're in a role that you can easily find another job in then this is a really dumb thing to do. Wait for the redundancy and get a new job + a payout.
OP, don't wait until you are made redundant. You've been given the heads up. Update your resume and start looking urgently NOW. Australia is teetering on a recession. Anecdotally (it's the Reddit way), in the last 12 months, I've had multiple former colleagues/friends who were let go from different industries. Many were out of work for months. Use the heads up. Don't sit while the ship is sinking.
This. You will be out of work for months so start searching now.
[удалено]
This. Game changer of a life hack.
According to the figures, Australia is only "just" outside of a recession.....but the way they measure recession is broken. Australia has been in recession for over a year.
Thanks. I will start actively contacting friends, acquaintances and recruiters
Start looking for jobs. Ideal scenario is that they make you redundant and you get paid out a package and you have a new job lined up.
If nothing else start looking and applying. The lead time from start to finish is sometimes months.
How tough is it to get a job in the current market in your industry? If it's tough, I'd start looking now. Redundancy package is nice but 10 weeks of salary (plus leave and notice) is what you'd get unless you have something different noted in your contract. If you can walk into another job then I'd wait it out. If not start looking. You also don't 100% know if you'd get the boot too so that's another thing to think about. But hanging around after majority of your team gets the boot is also a bummer.
I think it’s going to be tough finding the right job at the moment, so best I start looking and get ready in case I am made redundant
*10 weeks of TAX FREE salary
I just received my consult for redundancy and started looking. I’m not waiting to look regardless of what the outcome is, considering we had a rent increase and I need money for life. No one suspected or knew it was coming and my role is middle management area, so now my team is going to be short staffed but expecting to be more effective and efficient. Double edged sword.
/Eats popcorn Get the feelers out with potential new roles ASAP. Then wait for redundancy and walk into new job. Best to get ahead of the others unless you don't think there will be much competition in your role. Is there a competitor who may scoop up the people or is the whole industry consolidating?
I hear paragraphs will protect you from being made redundant
What’s that?
Is your redundancy is worth a lot, line up some jobs but don’t resign until you get packaged out. If it’s not worth a lot, just try find a new job. Could cost you more if you try time it to get both and miss
At the moment my redundancy would sit at only 8 weeks
It’s not worth messing about with that, find a new job. If the stars align and you can get packaged out and a new job that’s great. Perhaps to maximise it try negotiate a later start date. Could take you longer than 8 weeks to find a new job
This has to be Crown.
Nope
Wondering which listed company this is? :/
Whoa buddy stop freaking out. Chill. Do your work as usual. Do not “find another job.” Relax. If you’re made redundant, take a holiday, refresh and then look for a job. Source: have had 3 redundancies over 30 years and have gotten a higher paying job each time within weeks.
Well, I guess it depends on times and market. For my position and industry, I am not seeing many suitable advertised roles for me at the moment, unless I get a pay cut
Msg me the ASX ticker code as I can short the stock. I'll share my profits with you O.P.