Redundancy's Silver Lining

For some people redundancy can be a blessing in disguise but for most of us it is a very stressful and destabilising experience.

- Sam Henderson

Unless you’re about to retire and have spent many hardworking years with the one employer, resulting in a material (and largely taxfree) windfall at retirement, redundancy is an extremely difficult time because of the unknown nature of your future income and employment prospects.

If a company is trying to cut costs, making employees redundant is one way to achieve this. These days to manage workforce reductions fairly many companies offer voluntary redundancy as a first course of action to allow those people who may be considering leaving in any case the ability to do so with a payment on the way out the door. Voluntary redundancy takes the pressure offcompanies and employees, and is a far more humane method of reducing workforce numbers.

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