Whats the standard redundancy package – if there even is one?
When people talk about a “redundancy package”, in the past this has meant a large sum of money that a company has paid to an employer to get rid of them for whatever reason. In the present economic climate, however, employers are *having* to let people go rather than *choosing* to, and no-one gets anything above the statutory minimum. The only plus side at the moment is that because there is no business going on, you can expect (probably) to be paid for your month’s notice period without working it – although they do not by law have to do this. You can check the calculator on direct.gov.uk to work out exactly what you’re entitled to. It is dependent upon length of service and your age. See the link below Bear in mind that you are only entitled to redundancy pay if you have completed two years’ service.
