What would you do….
Discussion
Hi everyone, will try to make it short…..apologies in advance!
So I work for an Corporate US company and in the past 2 years, I have been part of the team (my role Head of Projects) to close a UK manufacturing site and also in December a closure of a Product Line, so it’s been pretty tough seeing a lot of good people lose there jobs and for me to toe the corporate line….
Given I am pretty much the last man standing, the writing I feel is pretty much on the wall I lose my job this year, which brings me onto my next point:
1. Do I stay due to the golden handcuffs of ~1 year salary (after tax)
2. F’it off and try some contracting / consulting
I can WFH 3 days, the salary is pretty good for Devon and will pretty much have nothing to do from Q3 onwards….or do I take the leap now and try some different approach, the though of having no job at the end of year does worry me as I have been there 12 years and progressed through several roles.
I’m 40, based in Devon, with an Engineering background and due to complete my MBA mid year.
The sensible side is saying ride it out….
Thanks!
Chris
So I work for an Corporate US company and in the past 2 years, I have been part of the team (my role Head of Projects) to close a UK manufacturing site and also in December a closure of a Product Line, so it’s been pretty tough seeing a lot of good people lose there jobs and for me to toe the corporate line….
Given I am pretty much the last man standing, the writing I feel is pretty much on the wall I lose my job this year, which brings me onto my next point:
1. Do I stay due to the golden handcuffs of ~1 year salary (after tax)
2. F’it off and try some contracting / consulting
I can WFH 3 days, the salary is pretty good for Devon and will pretty much have nothing to do from Q3 onwards….or do I take the leap now and try some different approach, the though of having no job at the end of year does worry me as I have been there 12 years and progressed through several roles.
I’m 40, based in Devon, with an Engineering background and due to complete my MBA mid year.
The sensible side is saying ride it out….
Thanks!
Chris
Edited by Chrisd83 on Monday 6th January 20:42
Edited by Chrisd83 on Tuesday 7th January 10:28
I was very similar (and not so) thanks to Lord Cameron and his bonfires of the quangos - cheers Dave!
I stopped, did very little, took the golden goodbye and then found something else.
I do that again as I'm lazy and greedy.
Also by the sounds of things, you know what you're doing and if a workshy ginger lad from East Yorkshire with a newborn and spender wife was okay, you'll be fine!
I stopped, did very little, took the golden goodbye and then found something else.
I do that again as I'm lazy and greedy.
Also by the sounds of things, you know what you're doing and if a workshy ginger lad from East Yorkshire with a newborn and spender wife was okay, you'll be fine!
dundarach said:
I was very similar (and not so) thanks to Lord Cameron and his bonfires of the quangos - cheers Dave!
I stopped, did very little, took the golden goodbye and then found something else.
I do that again as I'm lazy and greedy.
Also by the sounds of things, you know what you're doing and if a workshy ginger lad from East Yorkshire with a newborn and spender wife was okay, you'll be fine!
Thanks buddy! I stopped, did very little, took the golden goodbye and then found something else.
I do that again as I'm lazy and greedy.
Also by the sounds of things, you know what you're doing and if a workshy ginger lad from East Yorkshire with a newborn and spender wife was okay, you'll be fine!
Jasandjules said:
12mths pay when you are binned? That means you can take 3 months off before starting a new job and have cash in the bank?? Sounds like a bit of a no brainer?
When I started the topic, 100% agree it sounds like a no brainer! Just amended my first post, it would be 12 months salary after tax. However the place has come become toxic and I’ve gone for 2 internal roles and basically been fobbed off, the positions are not going to be fulfilled etc.
You'll be very employable post shutdown so wouldn't worry too much.
Mate of mine is in a similar situation, in engineering, factory closure due to silly new UK legislation (over 200 jobs lost, moving operations to the EU now). He's riding it out to the end for the best package, has had some conversations and interviews in the background too though. Financially speaking its way better for him than if he were to jump ship prior.
Mate of mine is in a similar situation, in engineering, factory closure due to silly new UK legislation (over 200 jobs lost, moving operations to the EU now). He's riding it out to the end for the best package, has had some conversations and interviews in the background too though. Financially speaking its way better for him than if he were to jump ship prior.
I’ll skew the advice by saying your wellbeing is the most important factor and money can’t buy that. I’d look for new jobs / side hustles as they’re now called / other opportunities now. If nothing comes along then you’ve still got the payout assuming they don’t pull it. I’d rather enjoy what I’m doing than sit in a toxic culture hoping for a payout.
Thanks all, some really good sound advice.
I will ride it out, funnily enough I had my end of year review this morning and my manager said he will find new missions etc (Corporate BS) during the year, he also asked would I consider relocating to Singapore / APAC region. So that’s another spanner in the works!!
Also re the side hustle an old colleague has asked for some contractual support with a difficult construction company, of which I said I will help FOC as it’s the same industry / customers and told them to remember me at the end of year when the time comes!
Re the toxic culture, I struggle at times with mental health and this does impact it, but trying to focus on the end game.
Chris
I will ride it out, funnily enough I had my end of year review this morning and my manager said he will find new missions etc (Corporate BS) during the year, he also asked would I consider relocating to Singapore / APAC region. So that’s another spanner in the works!!
Also re the side hustle an old colleague has asked for some contractual support with a difficult construction company, of which I said I will help FOC as it’s the same industry / customers and told them to remember me at the end of year when the time comes!
Re the toxic culture, I struggle at times with mental health and this does impact it, but trying to focus on the end game.
Chris
I currently work in a very toxic environment, I'm contracting though and my current contract is up for renewal at the end of March. Every day I question why I don't just leave now if I am honest.
However, the money is good and the market is slow... but given the day rate I have accumulated a decent amount of cash to fall back upon, but as they say make hay while the sun shines. So every day I get up stressed and carry on, I know it isn't sustainable and I will either leave at the end of March or hand in my notice (4 weeks) and book a holiday to reset and then start the job search in anger.
If I try to align this to your situation, I can 100% see why you would ride it out and take the money if they let you go... sounds like you will be let go at some point if there's an option to relocate and then you can take the £££. It's how long you can hold out if the situation has now turned sour and toxic.... I'd suggest this may be part of the game though, they are making it bad for you to force you to leave and not get the £££.
However, the money is good and the market is slow... but given the day rate I have accumulated a decent amount of cash to fall back upon, but as they say make hay while the sun shines. So every day I get up stressed and carry on, I know it isn't sustainable and I will either leave at the end of March or hand in my notice (4 weeks) and book a holiday to reset and then start the job search in anger.
If I try to align this to your situation, I can 100% see why you would ride it out and take the money if they let you go... sounds like you will be let go at some point if there's an option to relocate and then you can take the £££. It's how long you can hold out if the situation has now turned sour and toxic.... I'd suggest this may be part of the game though, they are making it bad for you to force you to leave and not get the £££.
Simon_GH said:
That sounds a balanced synopsis. At risk of sounding heavy-handed, please ensure your wellbeing is part of the end game too. Good luck and please keep us posted!
Thanks buddy! If this was a member of my team I would take the same approach as suggest by yourself, maybe I should take my own advice! Freakuk said:
I currently work in a very toxic environment, I'm contracting though and my current contract is up for renewal at the end of March. Every day I question why I don't just leave now if I am honest.
However, the money is good and the market is slow... but given the day rate I have accumulated a decent amount of cash to fall back upon, but as they say make hay while the sun shines. So every day I get up stressed and carry on, I know it isn't sustainable and I will either leave at the end of March or hand in my notice (4 weeks) and book a holiday to reset and then start the job search in anger.
If I try to align this to your situation, I can 100% see why you would ride it out and take the money if they let you go... sounds like you will be let go at some point if there's an option to relocate and then you can take the £££. It's how long you can hold out if the situation has now turned sour and toxic.... I'd suggest this may be part of the game though, they are making it bad for you to force you to leave and not get the £££.
Thanks for your view and feedback on your situation, toxic situations are just sHowever, the money is good and the market is slow... but given the day rate I have accumulated a decent amount of cash to fall back upon, but as they say make hay while the sun shines. So every day I get up stressed and carry on, I know it isn't sustainable and I will either leave at the end of March or hand in my notice (4 weeks) and book a holiday to reset and then start the job search in anger.
If I try to align this to your situation, I can 100% see why you would ride it out and take the money if they let you go... sounds like you will be let go at some point if there's an option to relocate and then you can take the £££. It's how long you can hold out if the situation has now turned sour and toxic.... I'd suggest this may be part of the game though, they are making it bad for you to force you to leave and not get the £££.
t to be honest! A little part of me is thinking is this is a game from there side for me to leave and they avoid any severance pay - cynical I know!
I'd go proactive when the time feels right.
Depending on your relationship, have a frank chat with your boss about the future. If redundancies are planned anyway, it can work well for both sides to agree a date & keep a sense of purpose working towards it.
Alternatively, if things get bad, talk to HR and ask to speak with occupational health.
Depending on your relationship, have a frank chat with your boss about the future. If redundancies are planned anyway, it can work well for both sides to agree a date & keep a sense of purpose working towards it.
Alternatively, if things get bad, talk to HR and ask to speak with occupational health.
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