immediate reaction to being made redundant

SwappieMonster · Post by **SwappieMonster** » Tue Sep 28, 2010 1:04 am

A friend of mine is fairly certain he's about to be layed off from his large buyside shop employer. This thread seems to have some helpful advice on how to manage the process. I didn't understand the bit about getting a lawyer though. Does this apply to all jurisdictions? I believe in the UK, employees are basically entitled to next to nothing (just 1 month base) unless contractually specified. Unfortunately for my friend (and for me if I ever get canned), the only contractual requirement is potentially some deferred comp, but nothing else. Is there any upside to getting a lawyer involved even if any severance package offered is purely based on employer goodwill anyway? Also, how are severance packages typically structured? (I'm fortunate/young enough to never have personally experienced getting the boot.) Would appreciate any clarifications or just your general opinion on the subject.

pleb · Post by **pleb** » Mon Oct 04, 2010 12:45 pm

From my experiences here in the UK most employers actually tell you to get a lawyer (even offering to pay for you). As far as I'm aware it's actually a requirement of the redundancy process that you are adequately represented and most houses offer deals way above the minimum requirement as a show of goodwill.

P.S. I haven't personally been made redundant but a number of people I've worked with have and I believe that the lawyer advice way is the way to go.

katastrofa · Post by **katastrofa** » Fri Dec 07, 2012 7:52 am

What is the standard severance package for someone at VP level right now?