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How important is it to be prepared for redundancy?

03/02/2012 How important is it to be prepared for redundancy?Preparing oneself for redundancy could be an important matter as a number of UK companies have been forced to lay off their permanent workforce.

Those working on a contract basis may have found that they are indeed witnessing increased demand for their services as employers cut their head count.

Jon Norris, editor of Freelance Advisor, said: "People have been letting off permanent staff and then getting in a contractor a few days a week … to fill in skills they need and cut costs a little bit."

Other people who were made jobless last year have managed to turn their fortunes around using their redundancy pay to invest in a new business.

A recent article in the Financial Times examined the possibility of using finances from a voluntary redundancy to generate extra retirement income through investments.

Next week, womenintechnology.co.uk will be hosting an event, presented by legal professional Isabella Brusati, to discuss the issues surrounding redundancy. Called Redundancy: Be prepared, it will cover issues regarding downsizing, turning redundancy to your advantage, negotiating a package and the legal provisions that regulate redundancy.

Indeed, last month 24,000 former Woolworths employees have been awarded £67.8 million in compensation after being made redundant when the retailer closed. The company was found to have not consulted with union Usdaw before making redundancies and workers will be given 60 days' pay.


Looking for a new job? Find out more about womenintechnology's recruitment services for job seekers.
 
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