Redundancies have always been a way of life in the City, but in
the current economic climate, when many organisations are merging,
some have recruitment freezes and many others are considering
relocating, being at risk of redundancy can be especially
worrying.
Follow our top tips for redundancy to ensure you get the best
chance of keeping your role, and the best compensation if you do
not.
Our 'Top Tips' for redundancy scenarios
1. Do your homework
Check what your contract, company policies, and any relevant
collective agreement says about redundancy. They might refer to a
right to enhanced redundancy pay (over and above the statutory
entitlement) or fixed consultation procedures. If so, make sure
that your employer is doing what they are supposed to do. Enhanced
redundancy terms for City employees are common and range from a
multiple of 2 weeks per complete year of service upwards. Law firms
tend to have less generous enhanced terms whereas the
