From: Legal:Employment-Law Articles from EzineArticles.com
If your employer has made your job redundant, you should expect to
receive a redundancy entitlement. However, not everyone is
qualified to receive such compensation.
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Compromise Agreements - Getting Your Redundancy Payout
You are entitled to a redundancy payout if you have been made
redundant by your employer due to uncontrolled business
circumstances like a takeover by another firm or reorganization.
Your entitlement is more certain if you have been working for the
employer continuously for the last two years.
Compromise Agreements - Before You Look at Your Redundancy Compensation
Before you look at your redundancy compensation and totally get
excited about it, you should not forget to ask yourself if the
redundancy has been made appropriately. You and every employee in
the UK are covered by an employment law that protects your right as
a productive member of the labour force.
Compromise Agreements - How Redundancy Payment is Calculated
You are entitled to a redundancy payment if your job has been made
redundant by your employer. It is your right to claim for such a
payout especially if you have been working with the employer for at
least two years. You may not get a redundancy package if you have
been employed for less than two years, but the employer has the
discretion to give you any appropriate monetary package as a
consolation for the job loss.
Compromise Agreement - Deal With Various Redundancy Terms
It is your right to get a redundancy payment if your job has been
dissolved due to business reorganization, a downsizing scheme, a
takeover, or a shut down. Usual redundancy terms qualify an
employee for such compensation if he or she has been continuously
employed by the employer for at least two years.
Compromise Agreements - What is a 'Week's Pay' in Redundancy Payouts?
Redundancy payouts in the UK follow specific computations. If you
have been made redundant and you have been working continuously for
an employer for at least two years, the payout calculation would be
as follows: half of a week's pay for every year of continuous
employment if you are younger than 22 years old; a week's pay for
every year of continuous employment if you are between 22 and 40
years old; and 1.5 week's pay for every year of continuous
employment if you are older than 41 years old.
