Do I go, or do I stay??

[Dave_Snelson]

Its redundancy time again at my employer's due to yet another re-org (yawn!). I have avoided the last 28 (yes really!) occassions but now I am thinking...do I take this one on on very enhanced terms - and take my chances on the street, or do I stick it out?

What would the learned and esteemed panel do?

 

[lanason]

Find another job smartish and then take the money.

 

[Nauti Fox]

Dave, your caravan,do you have mains electric as well or do you have to rub balloons and jumpers together to make it a static one?
Take the money and run.Who knows what happens tommorrow.

 

[pissativlypossed]

Depends what you do, If you are in an industry that makes something, take the money and run. With all the HR, Environmental, Health and Safety, Paternal rights etc,etc, that uk business is burdened with now, all combining to make us uncompetitive your product will soon be produced by the Chinese, Indians et al. who have no such barrier to prosperity.
There is always B&Q, assuming you are over 50.

 

[romany123]

I think the Poll speaks for you. I would take the mony but as I work for myself that would be dificult /forums/images/graemlins/smile.gif. I am to tight to even pay myself a decent wage

 

[Alistairr]

I think only you can answer this one, it really depends on the Package they are offering you.

But if you do accept it, why not do what David(Solitare) has done, and try and make your hobbie into a full time job, then you really would love your job. Possible while actively looking for your next postition.

Whatever you do, i wish you all the best.

Cheers

Alistair.

 

[hlb]

Just to put my oar in. Things seem very quiet out there at the moment. I dont know anyone who has enough work.

 

[MedDreamer]

I agree with Haydn, particuarly if you are in manufacturing, its bloody hard work at the moment.

Don't know what your line is Dave but surely you need to consider how good the offer really is, will it pay your salary for 6 months? a year , two years etc.

If you are pretty confident that you can get an income stream going again pretty quickly (either working for yourself or not) then take the money, but if not I would probably stick it out (but there again I am slightly risk averse these days).

Also bear in mind that working for yourself is the only way you could possibly ever afford a new Windy /forums/images/graemlins/smile.gif

Whatever you do, all the best

Martyn

28 rounds of redundancy !! - over how many years? Staff morale at your place must be sky high - you don't work for MG Rover do you?

 

[tcm]

too true. There's a good reason for mass sackings and the reason is that everyone is doing that "hanging about waiting for an election" thing. Course, if i had had my way they'd all be shot er i mean we'd have fixed term administrations max 2 terms for any one leader.

 

[jhr]

Dunno; just like everyone else. Main considerations for me would be:

- Am I likely to be able to line up some contract work (ideally with 2 or 3 clients, and not just my last employer) so that the transition to self employment is seamless?

- Will that business have the prospect of being on-going, rather than a one-off act of charity on somebody's part?

- What are my earnings going to be, realistically? Will any reduction from my current assured salary (and don't forget the added value of any benefits you may be getting from your employer) be offset by the tax and other advantages of self employment?

- To what extent, if any, will the quality of my life be improved?

- Will I be giving up final salary pension benefits? (Bearing in mind that you'll never get them again....)

In the end, it's all about your attitude to risk. If you're the kind of person who needs the security of a pay packet every month, the world of self employment can be a cold and lonely place. However, those of my mates who have gone that way have all said that they'd never go back to paid employment - but they are risk-taking, entrepreneurial types.

 

[hlb]

I'm involved with manufacturing, property, Kitchens, Property in IOM, my sons into the service industry and it's all dead. And so are all our contacts. The country has been living off borrowed money for 20 years, I fear it has run out!!

 

[whisper]

If all your contacts are now dead, have you considered diversifying into the undertaking industry? Failing that, perhaps you should make your kitchens safer. /forums/images/graemlins/smile.gif

 

[hlb]

Ah. Undertaking. A dieing profesion I fear. Well I've done just about everything else, so might give it a go. Is there a web site for the hereafter where I can advertise my new services??

 

[whisper]

Agreed. Its a case of weighing up all those things plus would you have to work from home ?
I packed up work some 5 yrs ago due to a medical problem. My wife absolutely hated me being around the house, all of a sudden, and relations became strained. This is still sometimes difficult for her, even now. I made it bearable by eventually recovering enough to go off on my own regularly - it's how I've managed 120 hrs of boating in the last 6 months /forums/images/graemlins/cool.gif. Luckily I was relatively secure financially so didn't need a normal wage.
My brother has spent his life in the railway industry ( he's now 50 ) and was made redundant last year following a takeover by one of the "big boys". He was going to have a break for a while but found that he was very quickly approached by his former contacts and he is now working less hours but for the same or more money.
So, if you have a good reputation within your industry and are willing to risk your security for a few months, you are quite likely to end up being both happier and atleast as well off.
Good Luck whatever you decide.
John

 

[kindredspirit]

Take the money provided you have a pre-determined plan for your 3 options.

3 options are

a; get another job which ideally you will have lined up in advance.

b; become self-employed (and for this you'll need to have your groundwork done in advance for the area you're going into.)

c; live off the money for say two years and then go with the flow. (Very brave and possibly foolhardy.))

 

[Medskipper]

Take the money and go cruising for the rest of your life, thats what my brother did he was 49 at the time! he has been cruising for the last five years around the med, and he loves it! says he will never live in England again!

Barry

 

[powerskipper]

Dave if you have doubts don't, you will know in your self when the time is right, you will look on it as a new beginning to your life, and will have no regrets or indecision, life is a gamble, do what feels right.

 

[mikewilkes]

Having read all the other learned replies may I venture a comment.

If the kids are now finished with their education and working then perhaps it is now time for the two of you to do your thing.
As Barry said his brother started to cruise when he was 49 and would not go back. We started in 2000, all be it on a 28 / 28 day sched but that comes to an end in September when I stop being oilfield trash any more and start to enjoy life 100% instead of 50%.

You may not want to give up paid employment and cruise so then you both have to decide what you would LIKE to do.
If the kids are still in the education thing then your choices are maybe a wee bit limited.

Just remember that the last suit you wear has no pockets and you never know when that big double decker bus is going to come around your corner to make a mess of things!!!!

Whatever you decide I hope you enjoy and wish you every sucess.

 

[Dave_Snelson]

Oh my word!...80 / 20

Its that old business rule again. Mr Pareto has given me 80/20!!.

Seriously though, I really didn't expect the amount of replies that I have had - diverse though they are. Without getting all tearful and stuff, I wouldn't have expected so many of you folks to have waded in with your learned opinions to help me.

So here is what I have decided - and why...

I will take the money and run. I have been offered (subject to written statement) a years take home salary that amounts to >£60,000. I work in telecoms for a large well known old colonial coms company. I have 3 teenage kids but I have no mortgages, loans or any encumberances. I want to expand my property rental business in the south of France (don't run away thinking I am some tycoon, I am not - I just want to expand on the one holiday apartment we have in the French Alps) and I need 2 months off to do this.

I am reasonably off in terms of cash. If it all goes tits-up, I will have wasted only my redundancy money. I am not in a final salary scheme.

I have now qualified with City & Guilds in TIG welding of Stainless Steel and I have acquired loads of kit for the bespoke manufacture of marine things like pulpit / pushpit rails and fittings - and the local engineer in North Wales wants to punt some work my way. Also, I have the option of contracting as I am a reasonable contracts negotiator and writer, having had heaps of experience in this field.

So my risks are lower than most and the upsides are higher, and right now I don't feel at all scared.

So it's marine industry or comms??.....or both for a while??

 

[kindredspirit]

Re: Oh my word!...80 / 20

Looks like you're going to hit the ground running!