what would you do?

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Take the redundancy,
Take a probbable pay cut,
Get into IT Propper,
Start Climbing the IT Ladder.

Just My Thoughts.

 

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lol, probably not but in todays climate will I get another job?

hopefully if I can find something.

 

It depends how confident you are that there will still be a job there after January. For what it's worth, I reckon they want you to take redundancy. They give you one reason to go and several reasons not to stay.

 

Sorry to hear that, although dont forget you could always take another PT job in tesco's or summint, fills gaps in employment and gives you a few extra beans.

 

Yep, i would take the money and get looking for a proper IT job.

best of luck whatever you choose!

 

Did you say your salary is approximately 1500 a month? You have about 4 months left with a chance of possibly keeping your job if the company doesn't go down under.

On one hand, you "may" lose your job, but this is not so sure. If you do, you'll come out of the deal a few thousand in the black, this could be money you would have earned in case they kept you internally until February/March.

If you take the money and run, you may have companies asking why you're not working while you're looking for another job. Personally, it makes it harder to find a job while you're not employed than vice versa.

If you begin looking for a new job now, you've got 4 months where you're seen in a brighter light by potential new employers. I believe statistics say that ones chances of finding a proper new job decline rapidly after 6 months of unemployment. So after march, you'll be in deep trouble if you don't have a job by then. On the other hand, you may still be employed and still searching for a job...

 

which employers are likely to look down on someone for being made redundant by a company which is struggling?

 

That can be explained in interview, but employers look badly on employment gaps on a cv. Getting to interview stage with one on your cv in order to explain that it was redundancy from a company going under may be difficult.

 

Um... you have a job for now... a job that, as you stated, ultimately might not exist in the long-term, leaving you with NO severance pay to fall back on. Is the job THAT good that you would risk losing the 7.5K?

 

If its having that kind of effect then i would find somewhere to put that information on my CV

 

I agree. GBL, you know the situation far better than we do. Like Jim, I'm simply saying what I would do, which is to take the money and run - and this coming from a guy who typically advises to never leave a (stable) job unless you've already got another one lined up.

 

Please correct me if I misunderstood, but surely he's not going to lose 7.5k in entirety if he continues working until January. He's still going to be making a thousand pounds give or take each month during his term of remaining employment with a chance that the company won't go under.

And if he remains employed, he could be spending that time searching for another job knowing that his resume looks a little more attractive to some potential employers.

 

Theres two ways of looking at this I suppose.

I'm going to assume you are currently on 20k precisely at present, since its an easy figure and I believe you are around that value somewhere.

If you leave now, you will be given £7500 in redundancy pay (tax free)

If you stay in your job, you will take a 4.5% paycut (You mentioned this figure in another post here). This will reduce your pay from 20k to £19100pa. Your monthly takehome on this new figure will be £1,258.60 (After tax) - Assuming no student loans/overtime/etc

You stated that your redundancy next year would be halved. so lets do the maths here.

Redundant today - Receive £7500
Redundant in January - Receive £3750 + (£1258.60 per month for 4 months) = £8784.4

So basically you will receive more money by staying.

Should you decide to take the money and run, £7500 will (assuming your salary of 20k) last you 5.7 months if you change nothing about your lifestyle.

So you can take the money, and spend 5 months doing nothing but looking for a job. Hopefully the job arrives in that time. In this scenario you dont really get anything, but you could reduce that 5 months and spend more in order to move to another city. Downside is you reduce your buffer period.

If you decide to stay, you can do one of two things. Stay put and hope that nothing happens and you dont have to leave. You take the 4.5% cut, suck it up, and continue as normal. If they dont make you redundant next year, score. If they do, you have still (as per the above calculation) made more than the current redundancy offer. The downside is that you've been spending it too, so you dont really have much of a buffer.

Or you could use the time in the job to look for another job. You continue receiving the salary, but if you dont find one in time, you will be in the same scenario as the last paragraph. Another downside is that by quitting, you wont receive any redundancy pay at all. So you may end up losing out overall.

Each of the points has advantages and drawbacks. Only you can decide which is the most beneficial to you.

 

To be honest, I don't know what I would do. It's really difficult decision. I can just tell you form the point of view of the person who is looking for a job for few months already that is damn hard. I'm applying for lots of jobs right now and I'm heaving poor response.
Although I think it's really good idea to move to IT but it can take time.

 

Would you pay someone 7.5k to stay in a job that would pay you less money and that might not be there next year? Isn't that effectively what you're doing if you decide to stay at the company? Only you know the full details of your situation, but if it were me, I'd take the severance and move on. It may not be easy, but it sounds like you'd only be prolonging the pain if you stayed.

 

GBL: Do you enjoy your job? Is the place you work at somewhere you can see yourself working long term, and is there a chance that you could get a permanent move to the IT department? This will have a big influence on your decision.

That said, from what I've read on here, you could definitely get a full time IT role, and it wouldn't take you long to work up to second line / server work. Its easy, but dangerous to get too comfortable in one place. Think of your long term career rather than short term work.

Make the right decision for yourself,

Maria