Where
Am I - Reasons
for Redundancy
|
|
Reasons for Redundancy
Redundancy can happen for any number of reasons.
Statistics show hundreds of thousands made redundant every year. The
worst affected industries include manufacturing, distribution, hotels
and restaurants, and finance but no industry escapes entirely.
Redundancy according to BIS (Department for Business Innovation and Skills) is "dismissal
caused by an employer's need to cut jobs, move the place of work or
close down completely"
Redundancy has many reasons including:
- operating losses
- reduced profits
- foreign competition
- takeovers
- mergers
- changing technology
- changing markets
- changes requiring people with different skills
- strong sterling exchange rate
- weak sterling exchange rate
- poor management
Remember:
- It is not an easy decision for any employer to take
- It is not easy for any employee
- Do not take it personally
- Do get professional advice
- Do be informed
- Do move forward
- Stay Motivated
 Back
To Top
|
