Risk of redundancy letter

If your job is going, then the question is what else can you offer.

In redundancy situations where jobs are no longer required to be done, employers are required to look at alternatives to letting staff go. From what you’re saying, it sounds like you’re also being asked to consider alternative uses for your talents.

It may be a genuine attempt to identify alternatives or it may just be a tick the box exercise that gives the company cover.

Ugh, I hate this Elon Musk BS of making your employees justify their positions as if they love working there so much and will jump through any hoop to keep going.

One particularly mean method was taking a team of 5 and cutting it to 4 and making them all interview for the "new" positions

My advice, you might as well assume your job is toast and start looking now. Even if you survive this round of redundancies, it's clear your work isn't deemed essential and so will likely be targeted for further redundancies

Are you in financial services?

We could do with a bit of this type of management in many branches of the public service.

Get value for money, focus on who is needed and what roles they should play. Cut out excess.

Every organisation whether private or public can do with pruning and shaping.

Sorry to hear about getting a letter of this type. Yeah, I agree, I think you should be writing/speaking for yourself. And this could be your angle, actually, the team lead, since you trained these people. Good luck at the meeting. 

They'd likely have to hire more managers to run the scheme. And give the staff a week's break from their normal duties to allow them to write their letters.

Smart business isn't to obliterate half the companies value since buying it.

Though I agree with the other people's comments. Nothing the OP has posted here, suggests that there is any long term future there.

As others have said being asked the question is all the information you need...

You could possibly apply in advance but the first day for which you’re entitled is the day after the last date for which you’re being paid.

Yes.

But only if you've not got another job by then.

The first 3 working days are not counted.

Depending on how quickly they process, you should be able to collect on Wednesday 17th for a week. Then every Wednesday after that.

Or on Monday 15th for the Thursday and Friday, then on Wednesday 17th for Mon 15th - Wed 17th.

Then €232 every Wednesday from the 24th.

You have until the Friday to collect if you cannot make Wednesday.

No, i mean try to ensure that you Don't spend it all unless you absolutely have to. Bank as much as you can.

Otherwise, depending on how much you collect in total it will hit you in tax at the end of the year.

It's not 100% free money.

The government giveth and the government taketh.

My wife lost her job a few years ago and claimed until she got another job.

When I went to do my taxes for that year I found that I owed Revenue another €2,500 because the amount she collected was taxable at the higher rate.

Which was a hard pill to swallow.

This may be the first time the OP has been through redundancy and hasn't applied as yet, so may not realise it is taxable.

Let's assume that someone is made redundant as of today and only gets another job starting September 1st. That's €232 x 18 weeks =€4,176.

What happens when paid at the end of September? Does the tax on that €4,176 automatically come out of that paycheck?

I am not sure how this works but might be worth looking at as well.

https://www.revenue.ie/en/jobs-and-pensions/periods-of-unemployment/how-to-claim-a-tax-and-usc-refund-if-you-are-unemployed.aspx

I don't ger this. Don't we all pay income tax and prsi so if you are made redundant, you paid enough in the stamps to draw unemployment for 9 months I think.

What is tax got to do with it. You draw unemployment based on the credits you already paid! Not forever but 9 months I think.