statutory sucks
Statutory redundancy pay rates

These are based on an employee’s age and length of employment and are counted back from the date of dismissal.

Employees get:
1.5 weeks’ pay for each year of employment after their 41st birthday
a week’s pay for each year of employment after their 22nd birthday
half a week’s pay for each year of employment up to their 22nd birthday

Length of service is capped at 20 years and weekly pay is capped at £464. The maximum amount of statutory redundancy pay is £13,500.

You can give your staff extra redundancy pay if you want to, or have a qualifying period of less than 2 years.
( rachelswipe with a fork, Fri 26 Sep 2014, 16:27, 2 replies)

Hey! you must have been consulting for HP!! Khunts that they were.

(Master_Slob UK minister for cultural appropriation., Fri 26 Sep 2014, 16:44, closed)

True
When I was canned by them the payout formula wasn't very generous to those who'd been there for years, but they did set the minimum to 6 months pay. I'd only been there 8 months so I did quite nicely out of it (just as well, it took a while to get a job again).

The French guys did alright though. Their union had negotiated a deal where HP had to pay to retrain those who were made redundant in a career of their choice. Apparently there were a lot of guys choosing airline pilot as a new career :-)
( SteamedCleaner, Mon 29 Sep 2014, 6:14, closed)

well this is uncharacteristically dull

(sock puppet 94980 your personal details here, Fri 26 Sep 2014, 16:50, closed)

It's also bullshit.

( stuj (^(^;;^)^) GO TEAM SPIDERS!(^(^;;^)^), Sat 27 Sep 2014, 1:30, closed)