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Wednesday, 12 June 2024

What are your rights if you’ve been made redundant?

In the midst of the coronavirus pandemic many companies are laying off employees to cope with the loss of revenue. To put it into perspective; British Airways plans to let go of 12,000 employees, Upper Crust and Ritazza 5,000, Swissport 4,500, Boots 4,000, Royal Mail 2,000 and Airbus 1,700.

Economists are fearing that when the furlough scheme ends that there will be another huge wave of redundancies. To ensure that you are kept as financially secure in this time as possible, below we will explore your rights when it comes to redundancy.

Your rights when your colleagues are being made redundant

Firstly when it comes to redundancies there are rules in place around consultations. If a company plans to make 100 redundancies or more they need to conduct a collective consultation. This meeting is to happen at least 45 days prior to the first lay off. During this time your employer has to inform your workspace the details of what is to come and also give everyone the chance to ask questions or raise concerns/objections. You may find that the consultation periods will change depending upon the redundancies for the company.

There are also rules regarding paid notice periods . In the UK, if you have been in your role for less than two years, your employer has to give you at least one week’s worth of notice. You can then get an extra week’s worth of notice for every year up to 12 years that you have been at the company. Which means that you can get a maximum notice period of up to 12 years. During this time your employer has to pay you normally or ask you to leave and be compensated with sum in lieu. Additional to your regular pay you should also be receiving benefits during this period such as contributions to your pension.

Kyle Faulkner
Kyle Faulkner
Kyle Faulkner is city editor, breaking major business and market stories and analysing what they mean for the financial sector. He has revealed some of the biggest stories in the city in the past decade, with a string of exclusives about major takeover deals. Kyle was awarded the London Press Club Business Journalist of the Year.

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