Average Redundancy Package ?

S+

Anybody know where I can find details on what packages have been paid out recently ?
I understand that the statutory is 2 weeks per full year completed, but need details on what companies have been paying in both voluntary and mandatory packages.

All help VERY much appreciated.

MG

There is a redundancy calculator on the Dept of enterprise & employment website that will give statutory entitlement. It is two weeks per year of service AFAIK plus an extra week or two but all subject to maximum and must have > 2 yrs service I think. Check it out properly on that website.

S+

Cheers MG

What I'm trying to gauge is what companies have paid in the past - especially multinationals. Effectively looking for a benchmark.

Anyone ??

bringitdown

Unfortunately you'll have a hard time getting this information from companies... and the packages can vary wildly.

I know of one case where it was turn up and the door is locked...
To 7 weeks per year with a lump sum and all sorts of outplacement services.

In my case I recieved 4 weeks / year, 1 years health insurance + life assurance, an outplacement course (CV's etc. etc) in addition to the statutory package.

That roughly equalled 1 year in Oz !

When we were "negotiating" this it was quite a good package. A little above average for our sector.

Interesting article on redundo + Ireland here: http://www.eiro.eurofound.eu.int/2003/11/tfeature/ie0311203t.html

S+

Cheers bringitdown

Anyone else ??

ArthurDent

I was made redundant from a multinational 3 years ago

Received lump sum + 6 weeks per year served (this was capped at 15 years service for most employees, I think)
+ out-placement services

hope this helps

Victor

I get the impression most are about 5 weeks per year if the company is downsizing, but bare minimum is more likely where the company has gone bust, e.g. NÉT.

ixoy

I got caught in a downsizing movement: got 6 weeks per full year served (partial years never count) + 3 mnths VHI + 6 mnths pension. No other lump sum.

S+

Thanks folks.

Anybody else - feel free to add your 2c .........

golfman

Well I'm currently get a pretty raw deal from my company....

I'm effectively getting the chop because they think they can manage it out of the UK. They have offered me the equivalent of 1.6 weeks per full year served including the statutory. And this is based off my basic where my take home was 50/50 of basic and commission.

AnthonyOD1987

I'm going through a similar situation now in financial services area. our company is paying 1 months salary per year of service capped at 12 months, but I have heard of other companies paying up to 7 weeks. Also factor in training budgets etc

AnthonyOD1987

golfman wrote: »

Well I'm currently get a pretty raw deal from my company....

I'm effectively getting the chop because they think they can manage it out of the UK. They have offered me the equivalent of 1.6 weeks per full year served including the statutory. And this is based off my basic where my take home was 50/50 of basic and commission.

7

Axwell

Guys please dont be replying to threads that are over 10 years old..anything over a few months just start a new thread.