Redundancy

Here's a few pointers for employees and employers

It’s strange that with employment at an all time high and fewer people claiming unemployment benefit, there is a feeling that we are heading for significant job losses in the economy.

I’m sure many business have been resigned to the fact that the cost of living crisis is set to continue for some time, with rampant inflation and rising interest rates. Following the budget statement yesterday, it is clear we set for some extremely testing times ahead, and that’s to put it mildly.

Undoubtedly some businesses are going to go to the wall, many will seek to make savings and the odd one or two will thrive (debt collectors, counselling services etc.)

Redundancy is a huge topic, so I’ve picked out a few important points to note

Closing down

For businesses closing down, the rules about redundancy are fairly straightforward. It matters whether the business is a private enterprise or a limited company.

If a limited company goes into liquidation, staff are